Jester Corporation's most recent income statement appears below: 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 (30%) Net income Multiple Choice O 23.9% Income Statement 22.3% The beginning balance of total assets was $190,000 and the ending balance was $187,200. The return on total assets is closest to: 16.7% 31.8% $ 250,000 145,000 105,000 45,000 60,000 15,000 45,000 13,500 $ 31,500

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Jester Corporation's most recent income statement appears below:
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 (30%)
Net income
Multiple Choice
O
The beginning balance of total assets was $190,000 and the ending balance was $187,200. The return on total assets is closest to:
O
23.9%
Income Statement
22.3%
16.7%
31.8%
$ 250,000
145,000
105,000
45,000
60,000
15,000
45,000
13,500
$ 31,500
Transcribed Image Text:Jester Corporation's most recent income statement appears below: 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 (30%) Net income Multiple Choice O The beginning balance of total assets was $190,000 and the ending balance was $187,200. The return on total assets is closest to: O 23.9% Income Statement 22.3% 16.7% 31.8% $ 250,000 145,000 105,000 45,000 60,000 15,000 45,000 13,500 $ 31,500
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