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Question 3 8 pts Last Year This Year Assets $537,472 $260,400 Liabilities $630,939 $211,758 Net Income $129,875 $113,315 The
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Answer #1

Average total assets = ( Last year+ This year)/2

= (537,472+630,939)/2

= $584,205.50

Net income = $113,315

Bad debt expense = $29,350

Net income after bad debt expense = Net income- Bad debt expense

= 113,315-29,350

= $83,965

Return on assets ratio = Net income after bad debt expense/ Average total assets

= 83,965/584,205.50

= 0.1437

Return on assets ratio for this year = 0.1437

Kindly comment if you need further assistance. Thanks

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