The return on total assets

Assignment Help Financial Accounting

Reference no: EM13794577

Last year the return on total assets in Jeffrey Company was 7.50%. The total assets were 4.3 million at the beginning of the year and 5.2 million at the end of the year. The tax rate was 30%, interest expense totaled $180 thousand, and sales were $6.6 million. Net income for the year was:

a. $315,000

b. $230,250

c. $176,250

d. $302,250

Reference no: EM13794577

Questions Cloud

Discussion on ritz-carlton case : Discussion on Ritz-Carlton Case

Political culture and political outcomes : How important are the mass media, such as print and broadcast outlets, and the new media, centered on social media and the internet, in influencing political culture and political outcomes?

What is the annual future cash flow for this investment : Anderson Corporation is considering investing $180,000 in equipment to produce a new product. Useful service life of the equipment is estimated to be 10 years, with zero salvage value. Straight-line depreciation will be used, i.e., $18,000 a year. Wh..

Write a description of mechanism : How to Write for the World of Work 7th Edition 5. Write a description of some mechanism, object, entity, or system with which you are familiar and you believe that most of your fellow students are not. Be prepared to explain to other students in the ..

The return on total assets : Last year the return on total assets in Jeffrey Company was 7.50%. The total assets were 4.3 million at the beginning of the year and 5.2 million at the end of the year. The tax rate was 30%, interest expense totaled $180 thousand, and sales were $6...

A national or global perspective about the issue : Does the information presented in the article affect you or people you know? Explain.

Profit margins and turnover ratios : Profit margins and turnover ratios vary from one industry to another/ What differences would you expect to find between a grocery chain such as Safeway and a steel company? Think particularly about the turnover ratios, the profit margins, and the Du ..

Explain risk management and its associated activities : Explain risk management and its associated activities and defend the need for a risk management plan. Describe the Delphi technique used to identify risks and infer on types of projects where this technique is most accurate.

Balancing the federal budget : The Buffet Rule' on Taxation " Because of the problems of balancing the budget of the United States in recent times, there have been calls from both parties for a balanced-budget amendment to the U.S. Constitution.

User Account

All Pages