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  3. dowling company's net income last year was $40,000

Dowling Company's net income last year was $40,000 and its interest expense was $8,000. Total...

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Accounting

Dowling Company's net income last year was $40,000 and its interest expense was $8,000. Total assets at the beginning of the year were $260,000 and total assets at the end of the year were $315,000. The company's income tax rate was 35%. The company's return on total assets for the year was closest to

a.16.7%.

b.15.7%.

c.7.9%.

d.14.5%.

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