FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Provide Correct answer from bellow options. Please answer

The records of Marshall Company include the following:
Average total assets
$3,500,000
Average total liabilities
1,220,000
Total revenue
4,580,000
Total expense (including income tax)
4,100,000
Interest expense(including in total expenses) 90,000
Income tax rate 40%
The return on assets is closest to:
a) 14.9%
b) 18.3%.
c) 15.3%.
d) 14.7%
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Transcribed Image Text:The records of Marshall Company include the following: Average total assets $3,500,000 Average total liabilities 1,220,000 Total revenue 4,580,000 Total expense (including income tax) 4,100,000 Interest expense(including in total expenses) 90,000 Income tax rate 40% The return on assets is closest to: a) 14.9% b) 18.3%. c) 15.3%. d) 14.7%
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