Cecilia Company reported net income of $1,400,000. The average total liabilities were $4,310,000 and average total stockholders'
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Cecilia Company reported net income of $1,400,000. The average total liabilities were $4,310,000 and average total stockholders' equity was $5,220,000. Interest expense was $102,000 and the tax rate was 40%. Cecilia's return on assets ratio (calculated using the modified method discussed in the text) is closest to?
Related Book For
Modern Advanced Accounting In Canada
ISBN: 9781259066481
7th Edition
Authors: Hilton Murray, Herauf Darrell
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