What is the return on assets for given time period

Reference no: EM131975908

Question: A firm's after-tax operating income was $1,000,000 and after-tax interest expense was $200,000 in 2013. It started the year with $5,000,000 in equity financing, $3,000,000 in long-term debt, and total assets of $10,000,000. It ended the year with $5,500,000 in equity financing, $4,000,000 in long-term debt, and $12,000,000 in total assets. The additional capital raised during 2013 started to affect the operating income in 2014. What is the return on assets for 2013?

Reference no: EM131975908

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