Multiple Choice
Dowling Company's net income last year was $40,000 and its interest expense was $8,000.Total assets at the beginning of the year were $260,000 and total assets at the end of the year were $315,000.The company's income tax rate was 35%.The company's return on total assets for the year was closest to
A) 14.5%.
B) 15.7%.
C) 16.7%.
D) 7.9%.
Correct Answer:
Verified
Correct Answer:
Verified
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