Find the Ratio of Net Income After Taxes to Average

question 51

Multiple Choice

Find the ratio of net income after taxes to average owner's equity. Round to the nearest tenth of a percent.
-Owner's equity at beginning of year: $1,748,000. Owner's equity at end of year: $2,122,000. Net income after taxes: $447,500.

• A)23.1%
• B)21.1%
• C)25.7%
• D)25.6%

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Definitions:

Collectivism

A social and cultural value that emphasizes the importance of groups and communities over individual achievement and interests.

Individualism

A perspective in social sciences that favors the autonomy of the individual over regulation by group norms or state laws.

Personal Privacy

The right of an individual to keep their personal information out of public view and to have control over their own personal data and the way it's used.

Narcissism

A personality trait characterized by an inflated sense of self-importance, a deep need for excessive attention and admiration, and a lack of empathy for others.