The financial statements of The New Idea Company this year shows average shareholders’ equity of $837,283...
The financial statements of The New Idea Company this year shows average shareholders’ equity of $837,283 thousand, net operating profit after tax of $66,275 thousand, net income of $29,068 thousand, and average net operating assets of $354,414 thousand. Tax rate for the year is 33%. The company’s Return on Net Operating Assets (RNOA) for the year is (round to two decimal places):
Homework Answers
Net operating profit after tax = $66,275 thousand
Average net operating assets = $354,414 thousand
Return on Net Operating Assets (RNOA) for the year = Net operating profit after tax / Average net operating assets
= 66,275/354,414
= 18.70%
Other information given in the question is not relevant while
calculating Return on Net Operating Assets (RNOA).
Kindly comment if you need further assistance. Thanks‼!
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The financial statements of The New Idea Company this year shows
average shareholders’ equity of $837,283...
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