Return on Total Assets

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 1.3.4MBA
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Return on Total Assets
A company reports the following income statement and balance sheet information for the current year:
Net income
$382,880
Interest expense
67,570
Average total assets
5,850,000
Determine the return on total assets. If required, round the answer to one decimal place.
%
Check My Work
67°F S
Transcribed Image Text:engageNOWv2 | Online teachin X * CengageNOWv2 | Online teachin x+ com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre.. * eBook Show Me How Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $382,880 Interest expense 67,570 Average total assets 5,850,000 Determine the return on total assets. If required, round the answer to one decimal place. % Check My Work 67°F S
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