Huge Cart Inc. gives you the following information pertaining to the year 2014.
Net sales $850,000
Cost of goods sold 500,000
Current assets 500,000
Current liabilities 250,000
Average total assets 900,000
Total liabilities 550,000
Net income 150,000
The rate of return on assets Huge Cart Inc. is:
a. 55.5%.
b. 30.0%.
c. 18.7%.
d. 16.6%.
