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Question: Nolan manufactures, markets, and sells cellular telephones. The average total assets for Nolan is $250,000. In its most recent year, Nolan reported net income of $55,000 on revenues of $455,000. Required

1. What is Nolan's return on assets?

2. Does return on assets seem satisfactory for Nolan given that its competitors average a 12% return on assets?

3. What are total expenses for Nolan in its most recent year?

4. What is the average total amount of liabilities plus equity for Nolan?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92336655

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