The Lastrom Company Provided the Following Information Regarding Its Operations

question 15

Multiple Choice

The Lastrom Company provided the following information regarding its operations: 2014 Total assets $750,000
2015 Total assets $800,000
2014 Net operating income $1,875,000
2015 Net operating income $1,925,000
2014 Net sales $4,525,000
2015 Net sales $5,100,000
What is Lastrom's ROI for the year ending 2015?

• A)2.48%.
• B)2.72%.
• C)2.40%.
• D)2.50%.

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Definitions:

Fraudulent Misrepresentation

An intentional false statement of a material fact made by one party to induce another party to enter into a contract, resulting in harm or loss.

Defalcation

The misappropriation of funds or property by a person trusted with its charge; often related to embezzlement.

Consciously False

Refers to a statement or claim made with the knowledge that it is not true.

Legitimate Lawsuit

A legal action based on valid claims and supported by evidence, which is brought forth in good faith.