Assume MetAmbit Corporation Had a Net Income of $2,500 for the Year

question 22

Multiple Choice

Assume MetAmbit Corporation had a net income of $2,500 for the year ending December,2014.Its beginning and ending total assets were $35,500 and $20,500,respectively.Calculate MetAmbit's return on assets (ROA) .(Round your percentage answer to two decimal places.)

• A)12.57%
• B)5.85%
• C)8.93%
• D)9.50%

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Definitions:

Break-even

The juncture where the total expenses match the total income, leading to a situation where there is no profit or loss.

Selling Price

The amount of money charged for a product or service, determined by cost, market demand, and competition.

Advertising Budget

The amount of money a company plans to spend on promotional activities over a certain period to market its products or services.

Monthly Sales

The total revenue generated from sales activities during a month.