Use the following information for the first year of operations for Layton Novelties,Inc.to answer the following question.Use ending balances whenever average balances are required for computing ratios. Cash flow from operating expenses for Layton Novelties is $32,400.
The cash return on assets for Layton Novelties is
A) 45 percent.
B) 40 percent.
C) 27 percent.
D) 9 percent.

Question

Use the following information for the first year of operations for Layton Novelties,Inc.to answer the following question.Use ending balances whenever average balances are required for computing ratios.   Cash flow from operating expenses for Layton Novelties is $32,400.
The cash return on assets for Layton Novelties is
A) 45 percent. 
B) 40 percent. 
C) 27 percent. 
D) 9 percent.

Quizplus · Accepted Answer

The Answer of Use the following information for the first year of operations for Layton Novelties,Inc.to answer the following question.Use ending balances whenever average balances are required for computing ratios.   Cash flow from operating expenses for Layton Novelties is $32,400.
The cash return on assets for Layton Novelties is
A) 45 percent. 
B) 40 percent. 
C) 27 percent. 
D) 9 percent.

Use the Following Information for the First Year of Operations