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During the year Ruby Sea Nautical Supplies collected $280,000 from customers, with payments to suppliers of $62,000. Cash paid to employees amounted to $55,000, and
During the year Ruby Sea Nautical Supplies collected $280,000 from customers, with payments to suppliers of $62,000.
Cash paid to employees amounted to $55,000, and cash paid for interest was $14,600.
Total assets at the end of the previous accounting period totaled $830,000, and for the current accounting period was $865,000.
Total owners equity on the current year's balance sheet was $201,600.
Calculate the cash return on total assets.
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
