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Refer to the following selected financial information from Blakely's Incorporated. Compute the company's return on total assets for Year 2: Year 2 Year 1 Net
Refer to the following selected financial information from Blakely's Incorporated. Compute the company's return on total assets for Year 2:
Year 2 | Year 1 | |
Net sales | $482,500 | $438,250 |
Cost of goods sold | 376,300 | 350,120 |
Interest expense | 9,700 | 10,700 |
Net income | 67,550 | 54,201 |
Total assets | 337,500 | 299,000 |
Total liabilities | 181,400 | 167,300 |
Total equity | 135,700 | 120,700 |
20.0%.
28.6%.
14%.
21.2%.
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