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Last Year This Year Assets $636,487 $697,508 Liabilities $210,796 $268,208 Net Income $133,545 $140,742 The accounting...

Last Year This Year
Assets $636,487 $697,508
Liabilities $210,796 $268,208
Net Income $133,545 $140,742

The accounting department for your company has given you the preliminary financial statement information. However, they have not estimated bad debt in the amount of $23,540 for this year. Calculate your return on assets ratio for this year after estimating bad debt expense. (enter 4 decimal places and no percentage sign. e.g. enter .0854796 as .0855)

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Answer #1

Last year. This year Assets 636,487 697508 Llabilities 210 796 268,208 Net Income 133545 140742 Estimation of Bad debts in thLast year This year Assets 636487 673468 Net Income 133545 fltdod Average Total assets. 6.36481+633968 Q = 655207.5 Average TI gave detailed explanation. Please upvote. If doubt please comment.

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