The following data have been extracted from the financial statements of Hutton Inc. Total assets Sales (all on credit) Cost of goods sold 12/31/Year
The following data have been extracted from the financial statements of Hutton Inc. Total assets Sales (all on credit) Cost of goods sold 12/31/Year 2 12/31/Year 1 $ 3,710,000 $ 3,335,000 $ 3,000,000 $ 2,600,000 (2,000,000) (1,700,000) Gross profit 1,000,000 900,000 Operating expenses (450,000) (400,000) Interest expense (50,000) (60,000) Net income before income taxes 500,000 440,000 Income taxes (30%) (150,000) (132,000) Net income after income taxes $ 350,000 $ 308,000 What was Hutton Inc.'s DuPont return on assets for Year 2?
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