Stan's Balloon Rides Had Net Sales of $280,611 and the Cost

question 39

Multiple Choice

Stan's Balloon Rides had net sales of $280,611 and the cost of goods sold were $110,900. Operating expenses were $45,315 and owner's equity is $423,600. Calculate the return on investment. (Round to the nearest tenth)

• A) 29.4%
• B) 18.8%
• C) 24.1%
• D) 28.6%

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Definitions:

Mediocre

An attribute describing something of only average or moderate quality; not very good.

Systematic Mistakes

Errors that consistently occur due to inherent flaws in logic, procedure, or bias.

Paycheck

A paper document or electronic transfer issued by an employer to pay an employee for services rendered.

Inertia

A tendency to do nothing or to remain unchanged, often used metaphorically to describe economic or financial systems' resistance to change.