(b) The income statement for the same firm is as follows (amounts in thousands) Sales Cost of goods sold 151,233 104.372

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B The Income Statement For The Same Firm Is As Follows Amounts In Thousands Sales Cost Of Goods Sold 151 233 104 372 1 (19.61 KiB) Viewed 33 times

(b) The income statement for the same firm is as follows (amounts in thousands) Sales Cost of goods sold 151,233 104.372 46,861 12,483 Selling and administrative expenses Interest income Interest expense Income tax Net income 1,123 (5.479) 4.356 10.450 19.572 The balance sheet at the end of 2020 reveals financial assets of 18,000 and debt of 78,270 and, at the end of 2021, financial assets of 24,000 and debt of 81,400, again in thousands of S. The firm's marginal tax rate is 37% Calculate return on net operating assets and not borrowing costs for 2021