Tribble Company has provided the following data: Sales $5,000,000 $30,000 Interest expense Total assets, beginning of year $185,000 Total assets, end of year Tax rate $215,000 30% 15.5% Return on total assets Tribble Company"s net income was: A) $1,000 B) $10,000 C) $22,000 D) $31,000

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 19P
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Tribble Company has provided the following data:
Sales
$5,000,000
$30,000
Interest expense
Total assets, beginning of year $185,000
Total assets, end of year
Tax rate
$215,000
30%
15.5%
Return on total assets
Tribble Company"s net income was:
A) $1,000
B) $10,000
C) $22,000
D) $31,000
Transcribed Image Text:Tribble Company has provided the following data: Sales $5,000,000 $30,000 Interest expense Total assets, beginning of year $185,000 Total assets, end of year Tax rate $215,000 30% 15.5% Return on total assets Tribble Company"s net income was: A) $1,000 B) $10,000 C) $22,000 D) $31,000
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