Net Devices Inc. The following balance sheets and income statements are for Net Devices Inc.,a manufacturer of small electronic devices,including calculators,personal digital assistants and mp3 players.For purposes of these questions assume that the company has an effective tax rate of 35%.
BALANCE SHEETS
Refer to the information for Net Devices Inc.What is the rate of return on assets for Net Devices for 2011?
Definitions:
ERISA
The Employee Retirement Income Security Act, a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry.
Pension Benefits
Payments made from a retirement plan, often based on years of service and salary history, made to eligible employees after retirement.
Workers' Compensation Statutes
Laws that provide financial compensation and medical care for workers who are injured or become ill as a direct result of their job, regardless of fault.
Independent Contractors
Individuals or entities hired to perform specific tasks or services for another entity as non-employees, often with their own tools, and responsible for their own tax obligations.
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