Last year the return on total assets in Jeffrey Company was 8.5%. The total assets were 2.9 million at the…

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Last year the return on total assets in Jeffrey Company was 8.5%. The total assets were 2.9 million at the beginning of the year and 3.1 million at the end of the year. The tax rate was 30%, interest expense totaled $110 thousand, and sales were $5.2 million. Net income for the year was:

 

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