Answered: How much is G. C. Murphey’s return on…

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Accounting

How much is G. C. Murphey’s return on assets for the year?

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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Question

G. C. Murphey’s 2016 financial statements show average shareholders’ equity of $20,412 million, net income of $5,040 million, and average total assets of $86,700 million.

How much is G. C. Murphey’s return on assets for the year?

Question 21 options:

4.77%

5.81%

11.42%

24.69%

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