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Excerpts from Nationwide Company's December 31, 2024 and 2023, financial statements are presented below: Accounts receivable Inventory Net sales Cost of goods sold Total assets Total stockholders' equity Net income 515,000 72,000 What is the return on assets for 2024? (Round your answer to one decimal place- Multiple Choice O 1.5% O 8.5% O 8.9% O 2024 $88,000 2023 $75,000 89,000 78,000 420,000 374,000 264,000 227,000 845,000 765,000 445,000 53,000 0.3%

Excerpts from Nationwide Company's December 31, 2024 and 2023, financial statements are presented below: Accounts receivable Inventory Net sales Cost of goods sold Total assets Total stockholders' equity Net income 515,000 72,000 What is the return on assets for 2024? (Round your answer to one decimal place- Multiple Choice O 1.5% O 8.5% O 8.9% O 2024 $88,000 2023 $75,000 89,000 78,000 420,000 374,000 264,000 227,000 845,000 765,000 445,000 53,000 0.3%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Excerpts from Nationwide Company's December 31, 2024 and 2023, financial statements are presented below: 2024 2023 $88,000 $75,000 89,000 78,000 Net sales 420,000 374,000 Cost of goods sold Total assets 264,000 227,000 845,000 765,000 515,000 445,000 72,000 53,000 Total stockholders' equity Net income What is the return on assets for 2024? (Round your answer to one decimal place.) Accounts receivable Inventory Multiple Choice 1.5% 8.5% 8.9% 0.3%
Transcribed Image Text:Excerpts from Nationwide Company's December 31, 2024 and 2023, financial statements are presented below: 2024 2023 $88,000 $75,000 89,000 78,000 Net sales 420,000 374,000 Cost of goods sold Total assets 264,000 227,000 845,000 765,000 515,000 445,000 72,000 53,000 Total stockholders' equity Net income What is the return on assets for 2024? (Round your answer to one decimal place.) Accounts receivable Inventory Multiple Choice 1.5% 8.5% 8.9% 0.3%
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