Calculating the Average Total Assets and the Return on Assets The income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows: 11eb71cd_0f67_ff41_a6e4_5d78f16dfa9c_SM1595_00 11eb71cd_0f67_ff42_a6e4_d147f98bd826_SM1595_00 Refer to the information for Somerville Company above. Assume a tax rate of 40%. Required: Note : Round answers to four decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.

Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger

النسخة 6الرقم المعياري الدولي: 978-1305103962

Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger

النسخة 6الرقم المعياري الدولي: 978-1305103962

تمرين 41

Calculating the Average Total Assets and the Return on Assets
The income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows:

Refer to the information for Somerville Company above. Assume a tax rate of 40%.
Required:
Note : Round answers to four decimal places.
1. Calculate the average total assets.
2. Calculate the return on assets.

التوضيح

موثّق

1.
Calculate Average total assets:
Ave...