Calculate the average total assets

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Question: Juroe Company provided the following income statement for last year:

717_Juroe.png

Juroe's balance sheet as of December 31 last year showed total liabilities of $10,250,000, total equity of $6,150,000, and total assets of $16,400,000.

Average Total Assets, Return on Assets Refer to the information for Juroe Company on the previous page. Also, assume that Juroe's total assets at the beginning of last year equaled $17,350,000 and that the tax rate applicable to Juroe is 40 percent.

Required: 1. Calculate the average total assets.

2. Calculate the return on assets.

Reference no: EM131698515

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