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The income statement statement of retained earnings, and balance sheet for Somerville Company are as follows Calculating the Average Total Assets and the Return on Assets Refer to the

The income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows:

Calculating the Average Total Assets and the Return on Assets Refer to the information for Somerville Company on the previous page. Assume a tax rate of 40%.

Round answers to two decimal places.

1. Calculate the average total assets.

2. Calculate the return on assets.

Jun 27 2020 View more View Less

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