At January 1, 2016, Rodney Company had total assets of $1,800,000 and at December 31, 2016, its were $2,200,000. Rodney's net sales for 2016 were $3,700,000 and its 2016 net income total assets was $110,000. Rodney's asset turnover ratio for 2016 is: A) 0.055 B) 0.050 C) 0.065 D) 1.850 19. At January 1, 2016, DuPage Company had total assets of $1,400,000 and at December 31, 2016, its DuPage's net sales for 2016 were $2,000,000 and its 2018 net income total assets were $1,600,000. was $120,000. DuPage's return on assets for 2016 is: 6.0% 7.5% 8.0% 75.0% A) B) C) D) 20. On January 1, 2015, Burns Company purchased equipment for $172,000. Burns uses straight-line depreciation and estimates an eight-year useful life and a $12,000 salvage value. On December 31, 2019, Burns sells the equipment for $60,000. 45 In recording this sale, Burns should reflect: A) A $6,000 loss B) A $24,000 loss C) A $12,000 loss D) No gain or loss 21. Several years ago, Beglen, Inc. purchased a computer costing $90,000, for which total depreciation of $70,000 has been recorded. Assuming that the computer is sold for $30,000 cash, the proper entry to record the sale is: A) Debit Cash, $30,000; debit Accumulated Depreciation, $70,000; credit Computer, $90,000 B) Debit Cash, $30,000; debit Accumulated Depreciation, $70,000; credit Computer, $96,000 C) Debit Cash, $30,000, debit Accumulated Depreciation, $70,000, credit Computer, s90,000, credit Gain on Sale of Computer, $10,000 Debit Cash, $30,000, credit Computer $20,000; credit Gain on Sale of Computer, $10,000 D)