Angelo Services Inc.reported the balance sheet for the year 2014.Based on the following information,calculate the rate of return on total assets of Angelo Services Inc.

Question

Quizplus · Accepted Answer

To calculate the rate of return on total assets, we need to use the formula: net income / total assets. From the balance sheet provided, we can see that the net income for the year was $247,800 and the total assets were $1,500,000.

So, the rate of return on total assets = $247,800 / $1,500,000 = 0.165 or 16.5%.

Therefore, the best choice is C with the rate of return on total assets of 16.50%.