A company has: Sales $640,000 Net profit after taxes $23,000 Total asset turnover 2.5 What is the return on assets? A. 3.6% B. 4.5% C. 8.1% D. 9.0%

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter15: Capital Investment Analysis
Section: Chapter Questions
Problem 15.5.1MBA
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Given answer this general Accounting question

A company has:
Sales
$640,000
Net profit after taxes $23,000
Total asset turnover 2.5
What is the return on assets?
A. 3.6%
B. 4.5%
C. 8.1%
D. 9.0%
Transcribed Image Text:A company has: Sales $640,000 Net profit after taxes $23,000 Total asset turnover 2.5 What is the return on assets? A. 3.6% B. 4.5% C. 8.1% D. 9.0%
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