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The records of Marshall Company include the following: Average total assets $3,500,000 Average total liabilities 1,220,000 Total revenue 4,580,000 Total expense (including income tax) 4,100,000 Interest expense(including in total expenses) 90,000 Income tax rate 40% The return on assets is closest to: a) 14.9% b) 18.3%. c) 15.3%. d) 14.7%

The records of Marshall Company include the following: Average total assets $3,500,000 Average total liabilities 1,220,000 Total revenue 4,580,000 Total expense (including income tax) 4,100,000 Interest expense(including in total expenses) 90,000 Income tax rate 40% The return on assets is closest to: a) 14.9% b) 18.3%. c) 15.3%. d) 14.7%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The records of Marshall Company include the following: Average total assets $3,500,000 Average total liabilities 1,220,000 Total revenue 4,580,000 Total expense (including income tax) 4,100,000 Interest expense(including in total expenses) 90,000 Income tax rate 40% The return on assets is closest to: a) 14.9% b) 18.3%. c) 15.3%. d) 14.7%
Transcribed Image Text:The records of Marshall Company include the following: Average total assets $3,500,000 Average total liabilities 1,220,000 Total revenue 4,580,000 Total expense (including income tax) 4,100,000 Interest expense(including in total expenses) 90,000 Income tax rate 40% The return on assets is closest to: a) 14.9% b) 18.3%. c) 15.3%. d) 14.7%
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