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Accounting

Problem:

A fire has destroyed a large percentage of the financial records of the Inferno Company. You have the task of piecing together information in order to release a financial report. You have found the return on equity to be 17.5 percent. Sales were $1,815,000, the total debt ratio was 0.34, and total debt was $664,000.

Required:

Question: What is the return on assets (ROA)?

Note: Provide support for rationale.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91168440

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