Question
TB MC Qu. 16-106 (Algo) Jester Corporation's most recent income statement... Jester Corporation's most recent income statement appears below: Income Statement Sales (all on account)
TB MC Qu. 16-106 (Algo) Jester Corporation's most recent income statement...
Jester Corporation's most recent income statement appears below:
| Income Statement | |
| Sales (all on account) | $ 250,000 |
|---|---|
| Cost of goods sold | 115,000 |
| Gross margin | 135,000 |
| Selling and administrative expense | 39,000 |
| Net operating income | 96,000 |
| Interest expense | 21,000 |
| Net income before taxes | 75,000 |
| Income taxes (30%) | 22,500 |
| Net income | $ 52,500 |
1. The beginning balance of total assets was $250,000 and the ending balance was $246,400. The return on total assets is closest to:
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Quality Audits Are Fun Journal Notes Checklists Questions Observations Evidence Log
Authors: Just Visualize It, The Quality Guy
1st Edition
1726628981, 978-1726628983
