Homework Answers
Return on assets for year 2:
Return on assets = EBIT / average assets
EBIT= earnings before interest and tax = net income before tax
EBIT= 67650
average assets =(total assets of year 1 + total assets of year 2 ) / 2
Average assets = (290400+317900) /2= 608300/2
Average assets= 304150
Return on assets = 67650/ 304150= 22.24% or 22.2%
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