A company reports the following income statement and balance sheet information for the current year: $$\begin{array} { | l | l | }
\hline \text { Net income } & \$ 180,000 \
\hline \text { Interest expense } & 20,000 \
\hline \text { Average total assets } & 2,000,000 \
\hline
\end{array}$$ Determine the rate earned on total assets. Round your answer to one decimal place.

Question

A company reports the following income statement and balance sheet information for the current year: $$\begin{array} { | l | l | } 
\hline \text { Net income } & \$ 180,000 \
\hline \text { Interest expense } & 20,000 \
\hline \text { Average total assets } & 2,000,000 \
\hline
\end{array}$$ Determine the rate earned on total assets. Round your answer to one decimal place.

Quizplus · Accepted Answer

The Answer of A company reports the following income statement and balance sheet information for the current year: $$\begin{array} { | l | l | } 
\hline \text { Net income } & \$ 180,000 \
\hline \text { Interest expense } & 20,000 \
\hline \text { Average total assets } & 2,000,000 \
\hline
\end{array}$$ Determine the rate earned on total assets. Round your answer to one decimal place.

A Company Reports the Following Income Statement and Balance Sheet