Last year the return on total assets in Justin Company was 8.5%.The total assets were $2,900,000 at the beginning of the year and $3,100,000 at the end of the year.The tax rate was 30%, interest expense totaled $110,000, and sales were $5,200,000.Net income for the year was
A) $145,000.
B) $222,000.
C) $332,000.
D) $178,000.

Question

Quizplus · Accepted Answer

The Answer of Last year the return on total assets in Justin Company was 8.5%.The total assets were $2,900,000 at the beginning of the year and $3,100,000 at the end of the year.The tax rate was 30%, interest expense totaled $110,000, and sales were $5,200,000.Net income for the year was
A) $145,000.
B) $222,000.
C) $332,000.
D) $178,000.

Last Year the Return on Total Assets in Justin Company