newconnect.mheducation.com hin Look I Skincare + Makeupl- YouTube NSCC-Campus Pi

Question

newconnect.mheducation.com hin Look I Skincare + Makeupl- YouTube NSCC-Campus Pipeline Connect Saved Help Save & Exit Jester Corporation's most recent income statement appears below: Income Statement Sales (all on account) Cost of goods sold Gross margin Selling and administrative expense Net operating income Interest expense Net income before taxes Income taxes (308) Net income $320,000 180,000 140,000 52,000 88,000 22,000 66,000 19,800 $ 46,200 The begining bolance of total ssets was $260000 and he ending balance wes $256 500 The eturn on total assats s losest to: Multiple Choice

Explanation / Answer

A.17.90%

Return on total assets = net income / average net assets

here,

Net income = $46,200.

average net assets = ($260,000 + $256,500) / 2

=>$258,250.

Return on Assets = $46,200 / 258,250

=>0.178896418

=>17.9%........(rounded to one decimal)

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