Lofty Exploration Company reported these figures for 2014 and 2013: Compute the rate of return on total
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Lofty Exploration Company reported these figures for 2014 and 2013:
Compute the rate of return on total assets for 2014. ( ound to twodecimals.)
Transcribed Image Text:
Income Statement-partial: Interest Expense Net Income Balance Sheet -partial: 2014 2013 $12,400,000 17,400,000 700,000 19,100,000 Dec. 31, 2014 Dec. 31, 2013 Total Assets $328,000,000 318,000,000
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The rate of return on total assets for 2014 is 938 rounded Calculations dollar amou...View the full answer
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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