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Canberry Corporation had net income of $92.000, beginning total assets of $712,000 and ending total assets...

Question:

Canberry Corporation had net income of $92.000, beginning total assets of $712,000 and ending total assets of $640,000. Its r

Canberry Corporation had net income of $92.000, beginning total assets of $712,000 and ending total assets of $640,000. Its return on total assets is: Multiple Choice 13.6% O 12.9% O 696% 774% 14.4% < Prex 24 of 36 HR Next > re to search O SAMSUNG

Answers

Average total assets = ( Beginning total assets + Ending total assets ) / 2 = ( 712000 + 640000 ) / 2 = 676000
Return on total assets = Net income / Average total assets = 92000 / 676000 = 13.6%
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