2. value 3.33 points IMC Qu. 106 Jester Corporation s most recent income.. Jeste

Question

2. value 3.33 points IMC Qu. 106 Jester Corporation s most recent income.. Jester Corporation's most recent income statement appears below Sales (all on account) $240,000 sold Cost of Gross mat Selling and administrative expenses Net oper 00,000 6,000 14,000 ncome Net income before taxes 42,00 income taxes (30%) Net Income The beginning balance of total assets was $180,000 and the ending balance was $177,300. The return on total assets is closest to (Round your answer to 1 decimal place) o 23.5% 219% o 31.3% 065% References Multiple Choice

Explanation / Answer

C . 31.3%

Return on total assets = Earnings before interest and taxes / total average assets

= 56,000/ ( (180000+177300)/2)

= 31.34%

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