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Brief Exercise 7-18 Use the return on assets ratio (L07-7) The balance sheet of Cedar Crest Resort reports total assets of $710,000 and $860,000 at

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Brief Exercise 7-18 Use the return on assets ratio (L07-7) The balance sheet of Cedar Crest Resort reports total assets of $710,000 and $860,000 at the beginning and end of the year, respectively. The return on assets for the year is 22%. Calculate Cedar Crest's net income for the year. Net income

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