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Author Question: The income statement for Otto Construction Company appears below:Net sales (all credit ... (Read 13 times)

lol1012

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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
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Marked as best answer by lol1012 on Feb 5, 2023

heathercab

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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.
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lol1012

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Reply 2 on: Feb 5, 2023
YES! Correct, THANKS for helping me on my review

lindahyatt42

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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