Can you please solve this financial accounting question? Sterling Enterprises reports a net income of$45,000 for 2023. At the beginning of 2023, SterlingEnterprises had $180,000 in assets, and by the endof the year, the assets had increased to $240,000.What is Sterling Enterprises' return on assets(ROA) for 2023?

Step 1: Define Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that measures a…

Answered: Sterling Enterprises reports a net…

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter8: Property Transactions: Capital Gains And Losses, Section 1231 And Recapture Provisions

Section: Chapter Questions

Problem 35P

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Sterling Enterprises reports a net income of $45,000 for 2023. At the beginning of 2023, Sterling Enterprises had $180,000 in assets, and by the end of the year, the assets had increased to $240,000. What is Sterling Enterprises' return on assets (ROA) for 2023?