Recent Posts • Latest Topics • Unanswered Questions

Kienle Corporations Year 2 income statement appears below:Income StatementSales$ 1,280,000Cost of ...

DenverMade

wrote...

Go to Answer

Posts: 180

Rep:

10 months ago

Kienle Corporations Year 2 income statement appears below:Income StatementSales$ 1,280,000Cost of ...

Kienle Corporation’s Year 2 income statement appears below:

Income Statement
Sales	$ 1,280,000
Cost of goods sold	800,000
Gross margin	480,000
Operating expenses	419,857
Net operating income	60,143
Interest expense	12,000
Net income before taxes	48,143
Income taxes (30%)	14,443
Net income	$ 33,700

The company’s total assets at the end of Year 2 amounted to $1,359,000 and at the end of Year 1 to $1,320,000. The company’s return on total assets for Year 2 is closest to:

▸ 2.48%

▸ 3.14%

▸ 2.52%

▸ 3.10%

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

Read 173 times

1 Reply

Report

Replies

Answer verified by a subject expert

Chintan13

wrote...

Posts: 137

Rep:

10 months ago

More solutions for this book are available here

Report

Related Topics

DenverMade Author

wrote...

10 months ago

Brilliant ツ

jaray75

wrote...

Yesterday

Thanks

ediblefruitz

wrote...

2 hours ago

Thanks

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1015 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

272

483

Your Opinion

Previous poll results: Where do you get your textbooks?

Courses by Biology Forums

It's sore throat season, why does my mucus have red spots?

The Toxic Skin and Fungi Defense

Bonobos, Chimpanzees, and the 98% DNA Link

Strange Ingredients Lurking in Doritos Chips

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.