Question
Jolie Foster Care Homes Incorporated shows the following data: Year Net Income Total Assets
Jolie Foster Care Homes Incorporated shows the following data:
Year Net Income Total Assets Stockholders' Equity Total Debt
20X1 $ 202,000 $ 1,980,000 $ 1,422,000 $ 558,000
20X2 211,000 2,400,000 1,565,000 835,000
20X3 209,000 2,740,000 1,610,000 1,130,000
20X4 183,000 2,700,000 1,640,000 1,060,000
Compute the ratio of net income to total assets for each year.
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
16th edition
125927716X, 978-1259687969, 1259687961, 978-1259277160
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