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

question 99

Essay

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

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Definitions:

Market Research Activities

Comprise various tasks and processes used to gather, analyze, and interpret data about a market, including customer preferences, competition, and trends.

Marketing Research Process

A systematic series of steps to identify and solve marketing problems through the use of scientific research methodologies.

Strategic Planning

A systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.

Managerial Decision

A decision-making process by managers that involves choosing between possible solutions to a problem to achieve the best possible outcome for their organization.