Jester Corporation's most recent income statement appears below:Income StatementSales (all on account)$130,000? Cost of goods sold 75,000? Gross margin 55,000? Selling and administrative expense 31,000? Net operating income 24,000? Interest expense 13,000? Net income before taxes 11,000? Income taxes (30%) 3300? Net income$7700? The beginning balance of total assets was $170,000 and the ending balance was $166,500. The return on total assets is closest to:
A. 10.0%
B. 6.5%
C. 14.3%
D. 4.6%
Answer: A
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