Reference no: EM132316466

Question

Sales revenue, net*   $240,000

Cost of goods sold     110,000

Gross margin             $130,000

Operating expenses:

Salary expense          $45,000

Amortization expense   12,000

Other operating expenses 13,000

Total operating expenses  70,000

Operating income             60,000

Gain on sale of plant assets 5,000

Interest expense                (4,000)

Net income before income tax   61,000

Income tax expense             (12,000)

Net income (loss)                $49,000

Refer to above given details, What is the return on total assets for 2017?