YZ Corporation Reported Net Income of $75,700 Last Year

question 69

Essay

YZ Corporation reported net income of $75,700 last year.The company incurred interest expense of $5,000.Assets on January 1st were $640,000 and on December 31st, had increased by $40,000.The income tax rate was 30%.What is XYZ's return on total assets?

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Definitions:

Customer Support Department

A division within a company responsible for helping customers with their queries, complaints, and other service-related issues.

Resolving Issues

The process of identifying, assessing, and solving problems that may arise in a business, project, or process.

Customer Cost Analysis

The process of identifying and evaluating the costs associated with acquiring and retaining customers, to determine their profitability.

Time-Driven Activity-Based Costing

A method of cost accounting that assigns costs to products or services based on the time resources are consumed in producing them.