Return on total assetsA company reports the following income statement and balance sheet information for the current year:Net income$410,000Interest expense90,000Average total assets5,000,000Determine the return on total assets. (Round percentages to one decimal place.) %

Name: Return on total assetsA company reports the following income statement
Uploaded: 2022-11-23T13:49:46.000Z
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Description: Return on total assetsA company reports the following income statement and balance sheet information for the current year:Net income$410,000Interest expense90,000Average total assets5,000,000Determine the return on total assets. (Round percentages to

Return on assets: Return on assets is the financial ratio which determines the amount of net income…

Answered: Return on total assets A company…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 9BE

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Return on total assets

A company reports the following income statement and balance sheet information for the current year:

Net income	$410,000
Interest expense	90,000
Average total assets	5,000,000

Determine the return on total assets. (Round percentages to one decimal place.)
%

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