Nolan manufactures, markets, and sells cellular telephones. The average total assets for Nolan is $245,000. In its most recent year,…

Nolan manufactures, markets, and sells cellular telephones. The average total assets for Nolan is $245,000. In its most recent year, Nolan reported net income of $61,000 on revenues of $470,000. What is Nolan’s return on assets? Round your answer to nearest percent What are total expenses for Nolan in its most recent year? What is the average total amount of liabilities plus equity for Nolan?

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