Angelo Services,Inc.reported the following balance sheet information for the year 2017.Based on the following information,calculate the rate of return on total assets for Angelo Services,Inc. $$\begin{array} { | l | r | }
\hline \text { Total Assets, December 31,2017 } & \$ 586,000 \
\hline \text { Total Assets, December 31,2016 } & \$ 505,000 \
\hline \text { For Year Ended December 31, 2017: } & \
\hline \text { Interest Expense } & \$ 27,000 \
\hline \text { Net Income } & \$ 66,100 \
\hline
\end{array}$$

Question

Angelo Services,Inc.reported the following balance sheet information for the year 2017.Based on the following information,calculate the rate of return on total assets for Angelo Services,Inc. $$\begin{array} { | l | r | } 
\hline \text { Total Assets, December 31,2017 } & \$ 586,000 \
\hline \text { Total Assets, December 31,2016 } & \$ 505,000 \
\hline \text { For Year Ended December 31, 2017: } & \
\hline \text { Interest Expense } & \$ 27,000 \
\hline \text { Net Income } & \$ 66,100 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Angelo Services,Inc.reported the following balance sheet information for the year 2017.Based on the following information,calculate the rate of return on total assets for Angelo Services,Inc. $$\begin{array} { | l | r | } 
\hline \text { Total Assets, December 31,2017 } & \$ 586,000 \
\hline \text { Total Assets, December 31,2016 } & \$ 505,000 \
\hline \text { For Year Ended December 31, 2017: } & \
\hline \text { Interest Expense } & \$ 27,000 \
\hline \text { Net Income } & \$ 66,100 \
\hline
\end{array}$$

Angelo Services,Inc A)1128% B)7

Angelo Services,Inc A)1128%
B)7