The balance sheets at the end of each of the first two years of operations indicate the following: 
If net income is $115,000 and interest expense is $30,000 for 2012 what is the rate earned on total assets for 2012 (round percent to one decimal point) ?
Definitions:
Accounting
The systematic process of recording, analyzing, and interpreting financial transactions and data.
Remedy
A means of legal reparation or correction, often through compensation or specific performance in law.
Contract Law
The body of law that governs the creation, enforcement, and termination of contracts between parties.
Breach of Contract
A breach of contract occurs when one party fails to perform any term of the contract without a legitimate legal excuse, thus violating the agreement.
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