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The following financial statements with the SEC can be used to create common size statements and calculate ratios. Calculate the return on assets (round to

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The following financial statements with the SEC can be used to create common size statements and calculate ratios. Calculate the return on assets (round to 2 decimal places). Ivanhoe Corporation Income Statement For the Fiscal Year Ended April 30, 2020 Net sales $ 58,589 Cost of products sold 41,674 Gross profit 16,915 Selling, general, admin expense 7,466 Depreciation 848 Operating income (loss) 8,601 Interest expense 519 Earnings (loss) before income tax 8,082 Income taxes 2829 Net earnings (loss) 5,253 $ Ivanhoe Corporation Balance Sheet As of April 30, 2020 Liabilities & Stockholders' Equity Assets Cash & marketable securities Accounts receivable Inventory Deferred income taxes Prepaid expenses Total current assets Property, plant, equip (@cost) Less: Accumulated depreciation Net property, plant, & equip Net goodwill & other intangibles Total assets Accounts payable Accrued & other liabilities Taxes payable Debt due within one year Total current liabilities $4,083 3,624 3,085 6,898 $17,690 5,836 6,275 7,120 702 2.242 22,175 49,974 17,757 32,217 13,020 67,412 Long-term debt Deferred income taxes Other non-current liabilities Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities & equity 19,420 5,522 4,486 $47.118 2,934 17,360 $20,294 $67,412

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