Calculating the Average Total Assets and the Return on Assets The income statement, statement of retained earninos, and balance sheet for Somerville Comparry are as follows. Also, assume a tax rate of $42%$ . Note: Round the return on total assets to trio dedimal places 1. Calculate the averaoe total asseks. 2. Calculate the retairn on total assets.

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Calculating the Average Total Assets and the Return on Assets The income statement, statement of retained earninos, and balance sheet for Somerville Comparry are as follows. Also, assume a tax rate of

42%

. Note: Round the return on total assets to trio dedimal places 1. Calculate the averaoe total asseks. 2. Calculate the retairn on total assets.

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