Quick answer of this accounting questions The following data pertain to Alpine Corp. for the year ended December31, 2024:•Net sales: $850,000.Net income: $210,000• Total assets on January 1, 2024: $3,000,000⚫ Total assets on December 31, 2024: $4,200,000What was Alpine Corp.'s rate of return on assets for 2024?

Step 1:First calculate the average total assets: Average total assets = (Beginning total assets +…

Answered: The following data pertain to Alpine…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 54CE

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The following data pertain to Alpine Corp. for the year ended December 31, 2024: • Net sales: $850,000 . Net income: $210,000 • Total assets on January 1, 2024: $3,000,000 ⚫ Total assets on December 31, 2024: $4,200,000 What was Alpine Corp.'s rate of return on assets for 2024?