A Company Had Net Income of $2,660,000, Net Sales of $25,000,000

question 34

Multiple Choice

A company had net income of $2,660,000, net sales of $25,000,000, and average total assets of $8,000,000. Its return on total assets equals:

• A) 3.01%.
• B) 10.64%.
• C) 32.00%.
• D) 33.25%.
• E) 300.75%.

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Definitions:

Platforms

Digital or physical spaces designed for various activities including social and economic exchanges.

Minimum Wage

The lowest legal salary that employers can pay workers, set by government regulations to ensure a basic standard of living for employees.

Cost Of Living

The average cost necessary to sustain a certain level of lifestyle in a given place, including expenses like housing, food, taxes, and healthcare.

Low Income

Refers to earning levels that are considerably lower than the national average, often resulting in financial constraints and limited access to resources.