Question
A company reports the following income statement and balance sheet information for the current year: Net income $517,470 Interest expense 91,320 Average total assets 6,690,000
A company reports the following income statement and balance sheet information for the current year:
| Net income | $517,470 |
| Interest expense | 91,320 |
| Average total assets | 6,690,000 |
Determine the return on total assets. If required, round the answer to one decimal place.
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Financial Accounting Version 3.0
Authors: Leah Kratz, Joe Ben Hoyle, C. J. Skender
3rd Edition
1453392904, 9781453392904
