Notaro manufactures, markets, and sells cellular telephones. The average total assets for Notaro is $250,000. In its most recent year, Notaro reported net income of $64,000 on revenues of $468,000.
Required
1. What is Notaro’s return on assets?
2. Does return on assets seem satisfactory for Notaro given that its competitors average a 9.5% return on assets?
3. What are total expenses for Notaro in its most recent year?
4. What is the average total amount of liabilities plus equity for Notaro?