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Bright star Corporation's total assets at the beginning of the year amount to $600,000,000, and its total assets at the end of the year amount to $300,000,000. If its return on assets (ROA) for the year is 25%, what is Bright star's net income for the year?

Bright star Corporation's total assets at the beginning of the year amount to $600,000,000, and its total assets at the end of the year amount to $300,000,000. If its return on assets (ROA) for the year is 25%, what is Bright star's net income for the year?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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Bright star Corporation's total assets at the beginning of the year amount to $600,000,000, and its total assets at the end of the year amount to $300,000,000. If its return on assets (ROA) for the year is 25%, what is Bright star's net income for the year?
Transcribed Image Text:Bright star Corporation's total assets at the beginning of the year amount to $600,000,000, and its total assets at the end of the year amount to $300,000,000. If its return on assets (ROA) for the year is 25%, what is Bright star's net income for the year?
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