Revo Company reports average total assets of $200,000, revenue of $57,000, net income of $19,000, and cash flow from operations of $24,000. (1) Compute its cash flow on total assets. (2) Is Revo's cash flow on total assets better than the 8% for its competitor, Epix Company? (1) Cash flow on total assets % (2) Is Revo's cash flow on total assets better than the 8% for its competitor, Epix Company?

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Budgeted Income Statement

Accounting is the process of recording business-related financial transactions. The process of accounting involves summarizing and analyzing the transactions. The financial statements which are prepared in accounting contain a summary of the various transactions that took place within a certain accounting period. Book-keeping or accounting is one of the most important activities of any business.