Refer to the information provided in TR22-1 along with the selected additional information below. Data From TR22-1

Question:

Refer to the information provided in TR22-1 along with the selected additional information below.

Data From TR22-1

Riyers Inc. has the following selected information for its years ended June 30:

Required:Calculate the return on total long-term capital, after tax; return on total assets, after tax; and return on equity for 20X2 and 20X3. Comment on the trend. Assume all of the interest expense relates to interest on long-term debt.

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Intermediate Accounting Volume 2

ISBN: 9781260881240

8th Edition

Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel

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Question Posted: Apr 14, 2023 03:35 AM

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Refer to the information provided in TR22-1 along with the selected additional information below. Data From TR22-1

Question:

Total assets Long-term debt Shareholders' equity 20X3 $1,782,000 $ 862,000 $ 678,000 20X2 $1,593,000 $ 912,000 $ 356,000 20X1 $1,498,000 $1,120,000 202,000

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Discussion The return on longterm capital after tax has improved in 20X3 primarily due to h...View the full answer

Intermediate Accounting Volume 2

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