Flitter reported net income of $19,000 for the past year. At the beginning of the year the company had $203,000 in assets and $53,000 in liabilities. By the end of the year, assets had increased to $303,000 and liabilities were $78,000. Calculate its return on assets:

A. 35.2%.
B. 7.5%.
C. 6.3%.
D. 9.4%.
E. 24.0%.


Answer: B

Business

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