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Using the following data for Hayes, Inc., compute its return on assets ratio (percentage, rounded to tenths place). Hayes, Inc. Net Income 2017 $ 123,000
Using the following data for Hayes, Inc., compute its return on assets ratio (percentage, rounded to tenths place). Hayes, Inc. Net Income 2017 $ 123,000 Total Assets 12/31/17 2,243,000 Total Assets 12/31/16 1,880,000 Net Sales 2017 2,135,000 Note: Return on assets - Net Income / Average total assets. 6.0% 7.0% 7.5% None of the answers provided. 5.0% 6.5% 5.5%
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Financial and managerial accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
1st edition
978-1118016114
