South Georgia College

Return on total assets = Adjusted net income* Average total assets** = $35,000 $210,000 = 16.7% *Adjusted net income = Net income + [Interest expense x (1-Tax rate)] = $28,000 + [$10,000 × (1-0.30))] = $35,000 **Average total assets = ($200,000 + $220,000) 2 = $210,000 254. ................
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