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\ Help\ Save & Exit\ Submit\ Flitter reported net income of

$20,000

for the past year. At the beginning of the year the company had

$205,000

in assets and

$55,000

in liabilities. By year end, assets had increased to

$305,000

and liabilities were

$80,000

. Calculate its return on assets:

Flitter reported net income of $20,000 for the past year. At the beginning of the year the company had $205,000 in assets and $55,000 in liabilities. By year end, assets had increased to $305,000 and liabilities were $80,000. Calculate its return on assets