This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The income statement for Otto Construction Company appears below:Net sales (all credit ... (Read 46 times)

lol1012

  • Full Member
  • ***
  • Posts: 149
on: Feb 5, 2023
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%
Managerial Accounting ¦ Davis ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by lol1012 on Feb 5, 2023

heathercab

  • Full Member
  • ***
  • Posts: 161
Reply #1 on: Feb 5, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


lol1012

  • Member
  • Posts: 149
Reply 2 on: Feb 5, 2023
Great answer, keep it coming :)

amcvicar

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

The Sun as it appears from the surface of Earth before sunset. The Sun as it appears from the surface of Earth before sunset.
The correct statement about hormones-insulin and glucagon The correct statement about hormones-insulin and glucagon
Race-Ethnicity and Income Extremes Race-Ethnicity and Income Extremes
The Gender Pay Gap Over Time: What Percentage of Men's Income Do Women Earn? The Gender Pay Gap Over Time: What Percentage of Men's Income Do Women Earn?
Income per Capita versus Income of the Bottom Quintile Income per Capita versus Income of the Bottom Quintile
How the Distribution of Education Affects the Distribution of Income How the Distribution of Education Affects the Distribution of Income
Video: Central Nervous System Animation

For a complete list of videos, visit our video library