Business
Business, 01.07.2019 17:10, msbanks317

Compute roa and adjusted roa csx corporation reported the following in its tax footnote to its 2016 financial statements. use this information to answer the requirements. $ millions 2016 2015 2014 net income $1,780 $2,034 $1,993 interest expense, net 596 561 562 average total assets 35,080 34,046 32,418 compute (a) return on assets and (b) the adjusted return on assets for each of the three years. assume a statutory tax rate of 37%. round answers to one decimal place (ex: 0.2345 = 23.5%).

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Business, 11.09.2019 02:30, Bringuplana
We have audited the balance sheet and statements of income and retained earnings of bellamy corporation as of december 31, 2016. we conducted our audit in accordance with generally accepted accounting standards. those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of misstatement.we believe that our audits provide a reasonable basis for our opinion.in our opinion, the financial statements referred to above present fairly the fi- nancial position of bellamy corporation as of december 31, 2016, and the results of its operations for the year then ended in conformity with generally accepted auditing standards, applied on a basis consistent with those of the preceding year.patel, cpa (signed)other informationbellamy is a private corporation and is presenting comparative financial statements.during 2016, bellamy acquired stockard inc. and the effects of that transaction are reflected in the current year financial statements. information about this transaction is disclosed in footnote 12.patel was unable to perform normal accounts receivable confirmation proce- dures for accounts that are material, but not pervasive, to the financial state- ments. unfortunately, patel was not able to perform alternative procedures to support the existence of the receivables.bellamy corporation is the defendant in litigation where there is a reasonable possibility that bellamy may be required to pay a substantial amount of cash, which might require the sale of certain fixed assets. because management does not want to provide any information that the plaintiff might use against bellamy, the case is not discussed in the financial statements.bellamy issued debentures on january 31, 2015, in the amount of $10 million. the funds obtained from the issuance were used to finance the expansion of plant facilities. the debenture agreement restricts the payment of future cash dividends to earnings after december 31, 2020. bellamy has disclosed this in the footnotes to the financial statements.identify and explain any items included in "other information" that need not be part of the auditor’s report.explain the deficiencies in patel’s report as drafted.*
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