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

question 34

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

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Definitions:

Imported Goods

Products brought into one country from another for the purpose of sale or trade.

Trade Imbalance

Trade imbalance occurs when there is a significant difference between a country's imports and exports, affecting its economic health.

Financial Crises

are situations where the value of financial institutions or assets drops significantly, leading to a collapse in the economy and causing widespread economic disruption.

Domestic Markets

Markets within a country's borders, where goods and services are produced, bought, and sold domestically.