Question
Teague Industries Presented below is selected financial data for Teague Industries for the current year: Current assets: Current liabilities Cash and cash equivalents $3,583 Accounts
Teague Industries Presented below is selected financial data for Teague Industries for the current year: Current assets: Current liabilities Cash and cash equivalents $3,583 Accounts payable $5,335 Short-term investments 1,595 Other current liabilities 2,882 Receivables, net 1,851 Total current liabilities 8,217 Merchandise inventories 6,255 Noncurrent liabilities 5,146 Other current assets 1,925 Shareholders' Equity 6,290 Total current assets 15,209 Total liabilities and shareholders' equity $19,653 Noncurrent assets 4,444 Total assets $19,653 Revenues $50,826 Costs and Expenses 45,963 Operating Income 4,863 Other income/expense (including interest expense of $70) (46) Income before income tax 4,817 Income tax expense (1,429) Net income $3,388 Previous Years' Financial Data Total Assets $17,320 Shareholders' Equity 4,010 The return on assets for Teague Industries is ________. (Round your answer to two decimal places, X.XX.)
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