Tamarisk, Inc. just began business and made the following four inventory purchases in June: June 1 162 units $972 June 10 216 un
1 answer:
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Answer:
63.09%
Explanation:
Note <em>Missing question is attached as picture below</em>
Average total assets = (Opening total assets+Closing total assets)/2
Average total assets = ($396,000 + $257,000) / 2
Average total assets = $653,000 / 2
Average total assets = $326,500
Return on total assets = (Net income + Interest expense)/Average total assets
Return on total assets = ($181,000 + $25,000) / $326,500
Return on total assets = $206,000 / $326,500
Return on total assets = 0.6309342
Return on total assets = 63.09%
