Refer to the following selected financial information from Gomez Electronics. Compute the company's return on total...
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Refer to the following selected financial information from Gomez Electronics. Compute the company's return on total assets for Year 2. Year 2 Year 1 Net sales $ 482,500 $427,050 Cost of goods sold 277,100 250,920 Interest expense 10,500 11,500 Net income before tax 68,050 53,480 Net income after tax 46,850 40,700 Total assets 318,700 292,800 Total liabilities 177,400 168,100 Total equity 141,300 124,700 Refer to the following selected financial information from Gomez Electronics. Compute the company's return on total assets for Year 2. Year 2 Year 1 Net sales $ 482,500 $427,050 Cost of goods sold 277,100 250,920 Interest expense 10,500 11,500 Net income before tax 68,050 53,480 Net income after tax 46,850 40,700 Total assets 318,700 292,800 Total liabilities 177,400 168,100 Total equity 141,300 124,700
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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