Calculating annual total return on assets
September 9th, 2022
The total assets of Perez Company were $1,950,000 at the beginning of the year and $1,830,000 at the end of the year. The company reported a net income of $225,000 and an interest expense of $30,000 during the year. The company’s income tax rate was 30%. What was the company’s return on total assets for the year?