Cecilia Company reported net income of $1,200,000.The average total liabilities were $4,300,000 and average total stockholders' equity was $5,200,000.Interest expense was $100,000 and the tax rate was 40%.Cecilia's return on assets ratio (calculated using the modified method discussed in the text)is closest to:
A)13.7%
B)12.6%
C)11.6%
D)13.3%

Question

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The Answer of Cecilia Company reported net income of $1,200,000.The average total liabilities were $4,300,000 and average total stockholders' equity was $5,200,000.Interest expense was $100,000 and the tax rate was 40%.Cecilia's return on assets ratio (calculated using the modified method discussed in the text)is closest to:
A)13.7%
B)12.6%
C)11.6%
D)13.3%

Cecilia Company Reported Net Income of $1,200,000