The following data were taken from the financial statements of Howard Corporation for the year ended December 31 . 2014: Net sales ............................................... $120,000 Net income .............................................. 30,000 Total assets, January 1 . 2014 ........................... 400,000 Total assets, December 31 . 2014 ......................... 600,000 What was

Howard's rate of return on assets for 2014?
a. 5 percent
b. 6 percent
c. 20 percent
d. 24 percent


B

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