Question
Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $220,360 Interest expense 38,890
Return on Total Assets
A company reports the following income statement and balance sheet information for the current year:
| Net income | $220,360 |
| Interest expense | 38,890 |
| Average total assets | 4,250,000 |
Determine the return on total assets. If required, round the answer to one decimal place. ( ) %
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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
12th edition
133451860, 978-0133451863
