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Financial statistics
Income and assets
Return on Assets
Johnson had income of $150 million and average assets of $1,200 million. Its return on assets is:
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A parcel of land is offered for sale at $151,000, is assessed for tax purposes at $113,000, is recognized by its purchasers as being worth $141,000, and is purchased for $138,000. The land should be recorded in the purchaser's books at:
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