Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN: 9781337395083
Author: Eugene F. Brigham, Phillip R. Daves
Publisher: Cengage Learning
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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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Transcribed Image Text: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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