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Question
Flitter reported net income of $17,500 for the past year. At the beginning of the year the company had $200,000 in assets and $50,000 in liabilities. By the end of the year, assets had increased to $300,000 and liabilities were $75,000. Calculate its return on assets:A.8.8%
B.7.0%
C.5.8%
D.35.0%
E.23.3%
Answer
This answer is hidden. It contains 135 characters.
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