At the End of 20X3, Anderson Corporation Reported a Return

question 164

Short Answer

At the end of 20X3, Anderson Corporation reported a return on assets of 16%; net income of $42,000; total assets of $365,000, and total liabilities of $165,000. The financial leverage percent was ___________.

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Definitions:

Alleles

Variants of a gene found at the same place on a chromosome that determine distinct traits that can be passed from parents to offspring.

Recessive Alleles

Gene variants that can be masked by dominant alleles and are expressed only when two copies are present.

Dominant Alleles

Dominant alleles are versions of genes that produce a dominant trait which will express itself in the phenotype, even when only one copy is present.

Monozygotic Twins

Identical twins that originate from a single fertilized egg, splitting and developing into two embryos.