Clairmont Industries reported Net income of $283,000 and average Total assets of $637,000.The Return on total assets is:
A)55.6%.
B)88.8%.
C)61.5%.
D)44.4%.
E)125.1%.

Name: Clairmont Industries reported Net income of $283,000 and average Total assets of $637,000.The Return on total assets is: A)55.6%. B)88.8%. C)61.5%. D)44.4%. E)125.1%.
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Quizplus · Accepted Answer

Return on total assets is calculated as Net Income divided by Average Total Assets. So, $283,000 / $637,000 = 0.444 or 44.4%.

Clairmont Industries Reported Net Income of $283,000 and Average Total