Doherty Corporation Had Net Income of $30,000,net Sales of $1,000,000,and

question 115

Multiple Choice

Doherty Corporation had net income of $30,000,net sales of $1,000,000,and average total assets of $500,000.Its return on total assets is equal to:

• A)3%
• B)200%
• C)6%
• D)17%
• E)1.5%

---

Definitions:

Silk-Screened T-Shirts

T-shirts printed through a process in which ink is pressed through a screen, allowing for the creation of images and texts on fabric.

Selling Price

Selling Price is the amount of money that a seller charges for a product or service.

Economic Profits

The discrepancy between what a business earns in total revenue versus the sum of its explicit and implicit expenditures.

Monopolistically Competitive

A market structure where many companies sell products that are similar but not identical, leading to competition.