Step Up Ladders Company Provides the Following Financial Information Calculate Return on Investment Based on the Information Given Above

question 186

Multiple Choice

Step Up Ladders Company provides the following financial information: $$\begin{array} { | l | r | } \hline \text { Income from operations } & \$ 400,000 \\\hline \text { Interest expense } & 47,000 \\\hline \text { Gains/(losses) on sale of equipment } & 3000 \\\hline \text { Net income } & 350,000 \\\hline \text { Total assets at Jan. 1 } & 2,600,000 \\\hline \text { Total assets at Dec .31 } & 3,400,000 \\\hline\end{array}$$ Calculate return on investment based on the information given above. (Round your answer to two decimal places.)

• A) 15.38%
• B) 11.67%
• C) 13.33%
• D) 11.76%

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