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

question 20

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

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Definitions:

Wingless Insects

Insects that lack wings at all stages of their life cycle, adapted for different modes of life than their winged counterparts.

Fish With Jaws

Refers to gnathostomes, which are vertebrates that possess true jaws, a significant evolutionary feature allowing them to exploit a wider variety of food sources.

Endosymbiosis

Type of symbiosis in which one organism lives inside another. See endosymbiont.

Gymnosperms

A group of seed-producing plants that includes conifers, cycads, and allies, characterized by seeds that are not enclosed within an ovary.