Use the following selected balance sheet and income statement information for Stevens Co. to compute ROA,...
Use the following selected balance sheet and income statement information for Stevens Co. to compute ROA, to the nearest hundredth.
|
Operating profit before tax |
Earnings without interest expense (EWI) |
Average total assets |
Sales |
Tax rate on operating profit |
|
$120,000 |
$192,500 |
$653,000 |
$1,250,000 |
35% |
Homework Answers
rate positively ..
| Return on asset = Profit before tax/Average total asset | ||||
| i | Profit before tax | 120000 | ||
| ii | Average total asset | 1,250,000 | ||
| iii | Return on asset = | 9.60% | ||
| Ans = | 9.60% | |||
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