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Calculate return on assets for the year

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ABC Inc. had total assets at the beginning of the year of $ 2000000 and total assets at the end of the yearof $ 9000000. The following contains information onABC Inc.'s statement of income for the year:

Sales$ 900000

Interest expense$ 5000

Income tax expense$60000

Net income$250000

Question 1: Calculate return on assets (ROA) for the year.

Reference no: EM132612819

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