Answer:
$290,700
Explanation:
The amount of net sales on the income statement is computed as shown below;
Net sales = Sales revenue - Sales discount - Sales return and allowance
Net sales = $320,100 - $12,400 - $17,000
Net sales = $290,700
<u>Calculation of Return on Total Assets:</u>
Return on Total assets can be calculated using the following formula:
Return on Total Assets = Net Income / Total Assets
We can calculate Net income as follows:
Sales $2960
Less: Operating Costs $2675
Less: Interest charges $125
Income before tax = 160
Less: Tax (160*40%) = 64
Net Income = $96
Hence , Return on Total Assets = 96/2100 = 0.0457 =<u>4.57%</u>
Beginning balance 750
Add supplies purchase 900
Less supplies used 1125
Supplies on hand at the end of february is
750+900−1,125=525...answer
Hope it helps!
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