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Home Q & A Board Other Fields Homework Help Business Accounting
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MrBio23 MrBio23
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A year ago
The income statement for Otto Construction Company appears below:

Net sales (all credit sales)$180,000
Cost of goods sold 100,000
Gross margin80,000
Operating expenses30,000
Interest expense   12,000
Income before taxes38,000
Income tax     9,500
Net income$  28,500

Average total assets total $240,000. Otto's income tax rate is 25%.

What is the return on assets?

▸ 15.6%

▸ 17.6%

▸ 16.8%

▸ 15.8%
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
Author:
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ramos1992ramos1992
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#1
Posts: 147
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A year ago
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MrBio23 Author
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A year ago
Good timing, thanks!
alpheratz
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Yesterday
This site is awesome
mambah4
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2 hours ago
Helped a lot
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