Multiple Choice
Last year the return on total assets in Justin Company was 8.5 percent.The total assets were $2,900,000 at the beginning of the year and $3,100,000 at the end of the year.The tax rate was 30 percent,interest expense totaled $110,000,and sales were $5,200,000.Net income for the year was
A) $145,000.
B) $222,000.
C) $332,000.
D) $178,000.
Correct Answer:
Verified
Correct Answer:
Verified
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