During 2009, Rita Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 400,000 Depreciation expense Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 What is Rita's return on assets?

During 2009, Rita Corporation reported: Net sales 30,000,000 Beginning total assets 12,000,000 Net earnings 1,500,000 Ending total assets 20,000,000 400,000 Depreciation expense Property, plant, equipment 8,000,000 Accumulated depreciation 2,000,000 What is Rita's return on assets?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 4P: Talbot Enterprises recently reported an EBITDA of $8 million and net income of $2.4 million. It had...

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Question

100%

ROA

During 2009, Rita Corporation reported:
Net sales
30,000,000
Beginning total assets
12,000,000
Net earnings
1,500,000
Ending total assets
20,000,000
400,000
Depreciation expense
Property, plant, equipment 8,000,000
Accumulated depreciation 2,000,000
What is Rita's return on assets?

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