11. Gerry's Superette had sales of $5,000,000 in the most recent year. Operating expenses were...
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11. Gerry's Superette had sales of $5,000,000 in the most recent year. Operating expenses were $3,500,000. Interest and taxes totalled $500,000. Total liabilities were $200,000, and owners' equity was $800,000. Required Calculate the following: (a) The return on assets (b) The return on owners' equity
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