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Nolan manufactures, markets, and sells cellular telephones. The

average total assets for Nolan is $241,000. In its most recent

year, Nolan reported net income of $63,500 on revenues of

$466,000.

liabilities plus equity = 46270

average total amount of liabilities plus equity for

Nolan?

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Explanation / Answer

xxxxx manufactures, markets, xxx xxxxx cellular telephones. The average total xxxxxx for xxxxx is xxxxxxxxx In xxx xxxx recent xxxxx Nolan reported xxx xxxxxx xx xxxxxxx xx xxxxxxxx xx $466,000.

xxxx is Nolan’s return xx assets? Round your xxxxxx to nearest xxxxxxx

Return xx xxxxxx = Net Income ÷ xxxxx xxxxxx

x xxxxxxx ÷ xxxxxxx

=24.9 x

xxxx are total xxxxxxxx xxx Nolan xx xxx most xxxxxx xxxxx

Total Expense = Total revenue – xxx xxxxxx

= $466,000 – xxxxxx

= $409,000

xxxx is xxx average xxxxx xxxxxx of liabilities xxxx xxxxxx for xxxxxx

The xxxxxxx xxxxx xxxxxx xx xxxxxxxxxxx xxxx equity for xxxxx xx xxxxx xx its xxxxxxx Total Assets, as xxx xxxxxxxxxx equation. Hence xxxxxxx total amount of xxxxxxxxxxx xxxx xxxxxx xxx xxxxx should xx $241,000

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