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Jester Corporation's most recent income statement appears below: Income Statement ...

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Accounting

Jester Corporation's most recent income statement appears below:

Income Statement
Sales (all on account) $ 200,000
Cost of goods sold 90,000
Gross margin 110,000
Selling and administrative expense 34,000
Net operating income 76,000
Interest expense 16,000
Net income before taxes 60,000
Income taxes (30%) 18,000
Net income $ 42,000

The beginning balance of total assets was $200,000 and the ending balance was $191,000. The return on total assets is closest to:

A) 27.2%

B) 30.7%

C) 38.9%

D) 21.5%

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