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26 September, 14:42

The Kingwood Company reported net income of $40,000 and average total assets of $440,000. Calculate the company's return on assets.

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  1. 26 September, 15:09
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    return on assets = 0.09 = 9%

    Explanation:

    Giving the following information:

    The Kingwood Company reported a net income of $40,000 and the average total assets of $440,000.

    To calculate the return on assets, we need to use the following formula:

    return on assets = net income / average total assets

    return on assets = 40,000 / 440,000 = 0.09
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