The Following Amounts Were Taken from the Financial Statements of Leaf

question 221

Multiple Choice

The following amounts were taken from the financial statements of Leaf Company: $\begin{array}{lrr}&2017&2016\\\text { Total assets } & \$ 800,000 & \$ 880,000 \\\text { Net sales } & 720,000 & 650,000 \\\text { Gross profit } & 352,000 & 320,000 \\\text { Net income } & 126,000 & 117,000 \\\text { Weighted average number of common shares outstanding } & 90,000 & 90,000 \\\text { Market price of common stock } & \$ 35 & \$ 39\end{array}$ The return on assets ratio for 2017 is

• A) 15.8%.
• B) 15%.
• C) 14.3%.
• D) 14.5%.

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Definitions:

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The act of publicly supporting or recommending a particular cause or policy.

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Factual Background

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