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Brief Exercise 12-11 (Algo) Calculate profitability ratios (LO12-4) Lorraine's Limos reports net income of $112,000, average total assets of $520,000, and average total liabilities of

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Brief Exercise 12-11 (Algo) Calculate profitability ratios (LO12-4) Lorraine's Limos reports net income of $112,000, average total assets of $520,000, and average total liabilities of $160,000. Calculate Lorraine's return on assets and return on equity ratios

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