Get correct answer with accounting question The following data pertain to Horizon Enterprises for the year endedDecember 31, 2023:•Net sales: $960,000.Net income: $192,000.Total assets on January 1, 2023: $2,400,000•Total assets on December 31, 2023: $3,600,000What was Horizon Enterprises' rate of return on assets for 2023?

Step 1: Definition of Rate of Return on Assets (ROA)Rate of Return on Assets (ROA) is a financial…

Answered: The following data pertain to Horizon…

Cornerstones of Financial Accounting

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Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

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Suppose during 2023, BlueStar Shipping reported the following financial information (in millions): Net Sales: $40,000 Net Income: $150 Total Assets at Beginning of Year: $26,000 • Total Assets at End of Year: $24,800 Calculate the following: (a) Asset Turnover (b) Return on Assets (ROA) as a percentage
The following financial data is available for Summit Corp. for the year 2022: Net Income (2022): $250 million Net Sales (2022): $3,400 million Total Assets (12/31/2020): $2,200 million Total Assets (12/31/2021): $2,750 million Total Assets (12/31/2022): $3,100 million Calculate Summit Corp.'s return on assets (ROA) for 2022.
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Subject. General accounting
Suppose in its 2027 annual report that McDonald's Corporation reports beginning total assets of $20.80 billion, ending total assets of $19.20 billion, net sales of $21.80 billion, and net income of $4.10 billion. (a) Compute McDonald's return on assets. (Round return on assets to one decimal place, e.g. 5.1%.) McDonald's return on assets % (b) Compute McDonald's asset turnover. (Round asset turnover to 2 decimal places, e.g. 5.12.) McDonald's asset turnover times
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The following data pertain to Horizon Enterprises for the year ended December 31, 2023: • Net sales: $960,000 . Net income: $192,000 . Total assets on January 1, 2023: $2,400,000 • Total assets on December 31, 2023: $3,600,000 What was Horizon Enterprises' rate of return on assets for 2023?