Question
Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $314,760 Interest expense 55,540
Return on Total Assets
A company reports the following income statement and balance sheet information for the current year:
| Net income | $314,760 |
| Interest expense | 55,540 |
| Average total assets | 5,290,000 |
Determine the return on total assets. If required, round the answer to one decimal place. fill in the blank 1 %
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Frank Woods Business Accounting An Introduction To Financial Accounting
Authors: Alan Sangster, Lewis Gordon, Frank Wood
15th Edition
1292365439, 9781292365435
