Problema company reports the following income statement and, Ask an Expert

Accounting

Problem:

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

Net income	$ 172,070
Interest expense	$ 14,966
Average total assets	$2,033,000

Task:

Question: Determine the rate earned on total assets. Round the percentage to one decimal place.

Note: Please provide through step by step calculations.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164449

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