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Accounting
The return on total assets is:

The return on total assets is:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Selected current year company information follows: Net sales $800,000 Net profit $500,000 Total liabilities, beginning of year $200,000 Total liabilities, end of year $400,000 Total equity, beginning of year $600,000 Total equity, end of year $1,400,000 The return on total assets is: O 38.5%. Cannot be determined. O 27.8%. O 61.5%.
Transcribed Image Text:Selected current year company information follows: Net sales $800,000 Net profit $500,000 Total liabilities, beginning of year $200,000 Total liabilities, end of year $400,000 Total equity, beginning of year $600,000 Total equity, end of year $1,400,000 The return on total assets is: O 38.5%. Cannot be determined. O 27.8%. O 61.5%.
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