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

question 23

Multiple Choice

Step Up Ladders Company provides the following financial information: $$\begin{array} { | l | r | } \hline \text { Income from operations } & \$ 250,000 \\\hline \text { Interest expense } & 49,000 \\\hline \text { Gains/(losses) on sale of equipment } & 2800 \\\hline \text { Net income } & 198,200 \\\hline \text { Total assets at Jan. 1 } & 2,700,000 \\\hline \text { Total assets at Dec .31 } & 3,500,000 \\\hline\end{array}$$ Calculate return on investment based on the information given above.(Round your answer to two decimal places.)

• A) 9.26%
• B) 6.39%
• C) 8.06%
• D) 7.14%

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Definitions:

Auditory Information

Data or knowledge received and processed through the sense of hearing.

Trigeminal Nerve

The fifth cranial nerve responsible for sensory data such as tactition (pressure), thermoception (temperature), and nociception (pain) from the face and head; it also manages motor functions such as biting and chewing.

Taste Receptor Cells

Specialized cells found in taste buds that are responsible for detecting different tastes like sweet, sour, salty, and bitter.

Taste Buds

Sensory organs located on the tongue that are responsible for perceiving different tastes.