The following selected data were taken from the financial statements of the KIA Group for December...

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The following selected data were taken from the financial statements of the KIA Group for December 31, 2012, 2011. and 2010: Dec. 31, 2012 Dec.31, 2011 Total assets $3.000.000 $2.700.000 $2.400,000 Notes payable (10% interest) 1,000,0 1.000,000 1.000.000 400,000 400,000 400,000 Common stock Preferred S6 stock, $100 par 200.000 200 000 200 000 Ino change during year) 896.000 600.000 126.000 Retained earnings The 2012 net income was $542,000 and the 2011 net income was $608,000. No dividends on common stock were declared between 2010 and 2012. The Rate Earned on Total Assets for 2012 is: Note: No special instruction is given in this problem, so use the appropriate average needed. (Round your answer to one decimal place) O 19.0% O 15.5% O 22.5% O 24.9% The following selected data were taken from the financial statements of the KIA Group for December 31, 2012, 2011. and 2010: Dec. 31, 2012 Dec.31, 2011 Total assets $3.000.000 $2.700.000 $2.400,000 Notes payable (10% interest) 1,000,0 1.000,000 1.000.000 400,000 400,000 400,000 Common stock Preferred S6 stock, $100 par 200.000 200 000 200 000 Ino change during year) 896.000 600.000 126.000 Retained earnings The 2012 net income was $542,000 and the 2011 net income was $608,000. No dividends on common stock were declared between 2010 and 2012. The Rate Earned on Total Assets for 2012 is: Note: No special instruction is given in this problem, so use the appropriate average needed. (Round your answer to one decimal place) O 19.0% O 15.5% O 22.5% O 24.9%

Answer rating: 100% (QA)

Net income 542000 Beginning total assets 2700000 Ending ... View the full answer