Need help Otteman Company reported a net income of $16,700 ongross sales of $80,000. The company has average total assetsof $115,200 of which $100,000 is property, plant, andequipment. What is the company's return on investment?a) 69.4%b) 18.0%c) 14.5%d) 12.5%

Step 1: Introduction to the Total AssetsThe total assets of a company are the economic resources…

Answered: Otteman Company reported a net income…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

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Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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Otteman Company reported a net income of $16,700 on gross sales of $80,000. The company has average total assets of $115,200 of which $100,000 is property, plant, and equipment. What is the company's return on investment? a) 69.4% b) 18.0% c) 14.5% d) 12.5%