t and balance sheet info

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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7-2 Project: Company Accour x
121. Project Guidelines and Rubric x
121. 7-1 Problem Set: Module Sev X
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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
$224,540
Interest expense
39,620
Average total assets
Determine the return on total assets. If required, round the answer to one decimal place.
1.8
Check My Work
Divide the sum of net income and interest expense by average total assets.
<>
Previa
Check My Work
ADE
dy
Transcribed Image Text:7-2 Project: Company Accour x 121. Project Guidelines and Rubric x 121. 7-1 Problem Set: Module Sev X CengageNOWv2 | Online tea now.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator3D&inprogress3false eBook Show Me How Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $224,540 Interest expense 39,620 Average total assets Determine the return on total assets. If required, round the answer to one decimal place. 1.8 Check My Work Divide the sum of net income and interest expense by average total assets. <> Previa Check My Work ADE dy
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