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Watermelon, Inc. provides the following data: 20X2 20x8 Cash Accounts Receivable, Net Merchandise Inventory Property, Plant, and Equipment, Net Total Assets $46,000 $25,000 98,000 62,000
Watermelon, Inc. provides the following data: 20X2 20x8 Cash Accounts Receivable, Net Merchandise Inventory Property, Plant, and Equipment, Net Total Assets $46,000 $25,000 98,000 62,000 74,000 50,000 184.000 120.000 $402,000 $257,000 Additional information for the year ending December 31, 20X9: Net Credit Sales $550,000 Cost of Goods Sold 150,000 Interest Expense 24,000 Net Income 184,000 Calculate the rate of return on total assets for 20X9. O 71.60% O 51.74% O 45.77% 63.1396
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