24) Given these facts, calculate return on assets: Sales................................................$8,200,000 Net Income............................................3,050,000 Average Total Assets..............................................7,100,000 Average Total Liabilities........................................3,500,000 A. 22%. B.43%. C.85%. D. 87%.

Name: 24) Given these facts, calculate return on assets: Sales..............
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Description: 24) Given these facts, calculate return on assets: Sales................................................$8,200,000 Net Income............................................3,050,000 Average Total Assets..............................................7,100

Given, Net income = $3,050,000 Average total assets = $7,100,000

Answered: ) Given these facts, calculate return…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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24) Given these facts, calculate return on assets:

	Sales................................................	$8,200,000
	Net Income............................................	3,050,000
	Average Total Assets..............................................	7,100,000
	Average Total Liabilities........................................	3,500,000
	A.	22%.
	B.	43%.
	C.	85%.
	D.	87%.

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