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Last Year the Return on Total Assets in Jeffrey Company

Question 131

Multiple Choice

Last year the return on total assets in Jeffrey Company was 8.5%.The total assets were 2.9 million at the beginning of the year and 3.1 million at the end of the year.The tax rate was 30%,interest expense totaled $110 thousand,and sales were $5.2 million.Net income for the year was:


A) $145,000
B) $222,000
C) $332,000
D) $178,000

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