Question
The following amounts were taken from the financial statements of Nicklaus Company: Current liabilities 2017 2016 $280,000 $220,000 Long-term liabilities 800,000 600,000 Interest expense 100,00
The following amounts were taken from the financial statements of Nicklaus Company:
Current liabilities 2017 2016
$280,000 $220,000
Long-term liabilities
800,000 600,000
Interest expense
100,00 50,000
Income tax expense
120,000 58,000
Net income
300,000 170,000
Net cash provided by operating activities
480,000 270,000
How much is return on assets for 2017?
- Note-The usual equation net income/ average total sales doesn't work since there are no assets listed on the statement. I'm stuck. Please help. Thanks.
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Management Accounting Information for creating and managing value
Authors: Kim Langfield Smith, David Smith, Paul Andon, Ronald Hilton, Helen Thorne
8th edition
9781760420413 , 978-1760420406
