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  3. at january 1, 2016, egret company had total assets

At January 1, 2016, Egret Company had total assets of $1,800,000 and at December 31,...

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Question

Accounting

At January 1, 2016, Egret Company had total assets of $1,800,000 and at December 31, 2016, its total assets were $2,200,000. Egrets net sales for 2016 were $1,700,000 and its 2016 net income was $110,000. Egrets return on assets for 2016 is:

A.

6.5%
B.

85.0%
C.

5.0%
D.

5.5%

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