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Calculate the return on assets for qpark

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Reference no: EM131083479

QPark reported $860,000 of operating income and $750,000 of net income. The income tax rate is 30 percent. Below are selected accounts and amounts (in thousands) from QPark's financial statements for the year ending December 31:

Sales revenue

$ 8,500

Equipment

$20,400

Interest expense

300

Long-term debt

3,600

Retained earnings

14,000

Income taxes payable

1,100

Common stock

12,000

Total assets

45,400

Calculate the return on assets for QPark. Explain what information this ratio provides for investors.

Reference no: EM131083479

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