Cloverton Corporation Had Net Income of $30,000, Net Sales of $1,000,000

Multiple Choice

Cloverton Corporation had net income of $30,000, net sales of $1,000,000, and average total assets of $500,000. Its return on total assets is:

A) 200%
B) 1.5%
C) 6%
D) 3%
E) 17%