During 2022, Wildhorse Corporation reported sales revenue of $5,777,240, sales returns of $226,000 and net income...
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During 2022, Wildhorse Corporation reported sales revenue of $5,777,240, sales returns of $226,000 and net income of $1,689,684. Wildhorse's capital structure at the beginning and end of the year was: 1/1/22 12/31/22 Liabilities Stockholders' equity $1,526,000 2,376,000 $1,676,000 2,526,000 Calculate return on assets. (Round answer to 1 decimal place,. e.g. 51.1.) During 2022, Wildhorse Corporation reported sales revenue of $5,777,240, sales returns of $226,000 and net income of $1,689,684. Wildhorse's capital structure at the beginning and end of the year was: 1/1/22 12/31/22 Liabilities Stockholders' equity $1,526,000 2,376,000 $1,676,000 2,526,000 Calculate return on assets. (Round answer to 1 decimal place,. e.g. 51.1.)
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To calculate the return on assets ROA we need to determine the average total assets for the ye... View the full answer
Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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