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Bryant, Inc. provides the following data: 2017 2016 Cash Accounts Receivable, Net Merchandise Inventory Property. Plant, and Equipment, Net Total Assets $41,000 $25,000 99,000 62,000
Bryant, Inc. provides the following data: 2017 2016 Cash Accounts Receivable, Net Merchandise Inventory Property. Plant, and Equipment, Net Total Assets $41,000 $25,000 99,000 62,000 72.000 50,000 182.000 120.000 $394.000 $257.000 Additional information: Net Credit Sales $560.000 190.000 Cost of Goods Sold Interest Expense 21.000 Net Income 185.000 Using the following formula, calculate the rate of return on total assets for 2017. (Round your answer to two decimal places.) FORMULA: Return on total assets - (Net Income + Interest Expense) / Average total assets
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