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Calculate the return on total ssets ratio based on the following information: cash = 14,870; accounts receivable = 22,108; prepaid = 3,010; supplies = $927;
Calculate the return on total ssets ratio based on the following information: cash = 14,870; accounts receivable = 22,108; prepaid = 3,010; supplies = $927; equipment = 62,150; accumulated depreciation = 13,750; accounts payable = 28,000; net sales = 325,000; interest expense 6,000; tax expense = 12,600; earnings before interest and taxes = 122,623; number of shares outstanding = 335,000. Round to two decimal places, and assume this is the first year of operations, so beginning total assets equal $0
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