Accounting MCQ
Accounting
The balance sheet of Purdy's BBQ reports total assets of $800,000 and $900,000 at the beginning and end of the year, respectively. The return on assets for the year is 20%. What is Purdy's net income for the year?
The balance sheet of Purdy's BBQ reports total assets of $800,000 and $900,000 at the beginning and end of the year, respectively. The return on assets for the year is 20%. What is Purdy's net income for the year?
The balance sheet of Purdy's BBQ reports total assets of $800,000 and $900,000 at the beginning and end of the year, respectively. The return on assets for the year is 20%.
What is Purdy's net income for the year?
A) $4,500,000.
B) $170,000.
C) $4,250,000.
D) $85,000.
Answer: B
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