Kienle Corporation's Year 2 income statement appears below: The company's total assets at the end of Year 2 amounted to $1,359,000 and at the end of Year 1 to $1,320,000. The company's return on total assets for Year 2 is closest to:
A)2.48%
B)3.14%
C)2.52%
D)3.10%

Question

Kienle Corporation's Year 2 income statement appears below:  The company's total assets at the end of Year 2 amounted to $1,359,000 and at the end of Year 1 to $1,320,000. The company's return on total assets for Year 2 is closest to:
A)2.48% 
B)3.14% 
C)2.52% 
D)3.10%

Quizplus · Accepted Answer

The Answer of Kienle Corporation's Year 2 income statement appears below:  The company's total assets at the end of Year 2 amounted to $1,359,000 and at the end of Year 1 to $1,320,000. The company's return on total assets for Year 2 is closest to:
A)2.48% 
B)3.14% 
C)2.52% 
D)3.10%

Kienle Corporation's Year 2 Income Statement Appears Below: the Company's