Clairmont Industries reported net income of $283,000,average total assets of $637,000,and comprehensive income of $354,172.The return on total assets is:
A)55.6%.
B)88.8%.
C)61.5%.
D)44.4%.
E)125.1%.

Question

Quizplus · Accepted Answer

The return on total assets is calculated by dividing net income by average total assets. So, $283,000 / $637,000 = 0.444 or 44.4%.

Clairmont Industries Reported Net Income of $283,000,average Total Assets of $637,000,and