The return on total assets is:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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