Question
Flitter reported net income of $19,500 for the past year. At the beginning of the year the company had $204,000 in assets and $54,000 in
Flitter reported net income of $19,500 for the past year. At the beginning of the year the company had $204,000 in assets and $54,000 in liabilities. By the end of the year, assets had increased to $304,000 and liabilities were $79,000. Calculate its return on assets:
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Financial Accounting An International Introduction
Authors: David Alexander
7th Edition
129229583X, 978-1292295831
