(Answered) Question juroe company provided the following income

Accounting

Question: Juroe Company provided the following income statement for last year:

Juroe's balance sheet as of December 31 last year showed total liabilities of $10,250,000, total equity of $6,150,000, and total assets of $16,400,000.

Average Total Assets, Return on Assets Refer to the information for Juroe Company on the previous page. Also, assume that Juroe's total assets at the beginning of last year equaled $17,350,000 and that the tax rate applicable to Juroe is 40 percent.

Required: 1. Calculate the average total assets.

2. Calculate the return on assets.

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