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Refer to the following selected financial information from Shakley'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 Shakley's Incorporated. Compute the company's return on total assets for Year 2.
Year 2 | Year 1 | ||||
Net sales | $ 479,500 | $ 426,450 | |||
Cost of goods sold | 276,500 | 250,320 | |||
Interest expense | 9,900 | 10,900 | |||
Net income before tax | 67,450 | 52,880 | |||
Net income after tax | 46,250 | 40,100 | |||
Total assets | 317,500 | 289,200 | |||
Total liabilities | 180,400 | 167,500 | |||
Total equity | 137,100 | 121,700 |
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