Return on total assetsA company reports the following income statement and balance sheet information for the current year:Net income$485,900Interest expense85,750Average total assets5,150,000Determine the return on total assets. If required, round the percentage 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$485,900Interest expense85,750Average total assets5,150,000Determine the return on total assets. If required, round th

Formula: Return on total Assets = Net Income / Average total Assets Division of Net income with…

Answered: A company reports the following income…

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	$485,900
Interest expense	85,750
Average total assets	5,150,000

Determine the return on total assets. If required, round the percentage to one decimal place.

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