Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. return on total assets a company reports the follo

Return on Total Assets A company reports the following income statement and balance sheet information...

80.2K

Verified Solution

Question

Accounting

Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $262,560 Interest expense 46,330 Average total assets 3,910,000 Determine the return on total assets. If required, round the answer to one decimal place.

Can someone explain to me what I'm doing wrong please. I am taking the ROA dividing the Net income and Average total assets, getting the 6.7 but I'm not sure what I'm doing wrong.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What is the Planar Motor Control Task? What is a typical recovery when patients were tested...

Medical Sciences
Q

What precautions should you take when working with strong acids?

Chemistry
Q

How can the use of linear equations and inequalities assist you with linear regression to make...

Basic Math
Q

1a. Consider the sequence {?? }n?0 which starts 1,2,7,20,61,122,..., defined by the recurrence relation ?? =...

Advance Math
Q

Insert one comme to separate the coordinate adjectives The Great Barrier Reef the largest coral...

Biology
Q

A parabola can be drawn given a focus of 8 5 and a directrix of...

Basic Math
Q

What is the 5th term in the expansion of Drag a value into each box...

Basic Math
Q

The payment amount returned by the PMT function includes principal and interest but no...

Accounting
Q

Required information [The following information applies to the questions displayed below.] Hickory...

Accounting
Q

On January 1, 2024, Splash City issues $380,000 of 8% bonds, due in 15 years,...

Accounting
Q

Carter Co. adquiri un camin de reparto por 21.000 y le asign un valor residual...

Accounting
Q

Bonus (4 Marks) Assume the following statistics for Stocks A, B, and C: Stock A...

Finance