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 12 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
Excellent

lindahyatt42

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

The Sun as it appears from the surface of Earth during the middle of the day The Sun as it appears from the surface of Earth during the middle of the day
The Sun as it appears from the surface of Earth before sunset. The Sun as it appears from the surface of Earth before sunset.
Christian Gladu, The Bungalow Company, The Birch, North Town Woods, Bainbridge Christian Gladu, The Bungalow Company, The Birch, North Town Woods, Bainbridge
Pharmaceutical Company Representatives Pharmaceutical Company Representatives
A company that sells sweatshirts finds that the profit can be modelled by P(s)= ... A company that sells sweatshirts finds that the profit can be modelled by P(s)= ...
An organizational specialist is hired as a consultant to a company planning to open a coffee ... An organizational specialist is hired as a consultant to a company planning to open a coffee ...
Video: Osmosis - Isotonic, Hypotonic, and Hypertonic​ Solutions

For a complete list of videos, visit our video library