Question
Cecilia Company reported net income of $1,400,000. The average total liabilities were $4,310,000 and average total stockholders' equity was $5,220,000. Interest expense was $102,000 and
Cecilia Company reported net income of $1,400,000. The average total liabilities were $4,310,000 and average total stockholders' equity was $5,220,000. Interest expense was $102,000 and the tax rate was 40%. Cecilia's return on assets ratio (calculated using the modified method discussed in the text) is closest to?
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Answer we can calculate Cecilias return on assets ratio using the modified method considering the in...
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Modern Advanced Accounting In Canada
Authors: Hilton Murray, Herauf Darrell
7th Edition
1259066487, 978-1259066481
