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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%

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%

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter12: Balanced Scorecard And Other Performance Measures
Section: Chapter Questions
Problem 5EB: During the current year. Plainfield Manufacturing earned income of $845,000 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%
Transcribed Image Text: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%
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