A Company Had Net Income of $350,000 in Year 1

question 65

Essay

A company had net income of $350,000 in Year 1 and $520,000 in Year 2. The company had average total assets of $2,500,000 in Year 1 and $3,000,000 in Year 2. Calculate the return on total assets for Year 1 and Year 2. Comment on the results, did the company's performance improve?

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Definitions:

Eligible Voters

Individuals who meet certain criteria set by law, making them qualified to vote in elections.

Turn Out

The act of participating or engaging in an event, particularly referring to the rate or proportion of people voting in an election.

Interval Variable

A type of quantitative variable that represents data with meaningful intervals between measurements, but without a true zero point.

Age

A measure of time that an individual has been alive, typically expressed in years.