Brawer Company's net income last year was $55,000 and its interest expense was $20,000.Total assets at the beginning of the year were $660,000 and total assets at the end of the year were $620,000.The company's income tax rate was 30%.The company's return on total assets for the year was closest to:
A) 8.6%.
B) 9.5%.
C) 10.8%.
D) 11.7%.

Question

Quizplus · Accepted Answer

The Answer of Brawer Company's net income last year was $55,000 and its interest expense was $20,000.Total assets at the beginning of the year were $660,000 and total assets at the end of the year were $620,000.The company's income tax rate was 30%.The company's return on total assets for the year was closest to:
A) 8.6%.
B) 9.5%.
C) 10.8%.
D) 11.7%.

Brawer Company's Net Income Last Year Was $55,000 and Its