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Charlies Inc. gives you the following information pertaining to the year 2020: Net sales $925,000 Cost of goods sold 575,000 Current assets 525,000 Current liabilities

Charlies Inc. gives you the following information pertaining to the year 2020: Net sales $925,000 Cost of goods sold 575,000 Current assets 525,000 Current liabilities 275,000 Average total assets 1,000,000 Total liabilities 560,000 Net income 225,000 The rate of return on assets Charlies Inc. is

a)4.44%.

b)42.9%.

c)92.5%.

d)22.5%.

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