The total assets of Perez Company were $1,950,000 at the beginning of the year and $1,830,000 at the end of the year. The company reported net income of $225,000 and interest expense of $30,000 during the year. The company's income tax rate was 30%. What was the company's return on total assets for the year? How may this information be used by managers, investors, or creditors?© BrainMass Inc. brainmass.com June 4, 2020, 2:27 am ad1c9bdddf
This solution provides steps to determine total assets of Perez Company.