The following data were taken from the financial statements of Howard Corporation for the year ended December 31, 2014: Net sales .................................................... $120,000 Net income ..................................................... 30,000 Total assets, January 1, 2014 ..................... 400,000 Total assets, December 31, 2014 .............. 600,000 What was Howard's rate of return on assets for 2014? Group of answer choices 6 percent 20 percent 5 percent 24 percent
The following data were taken from the financial statements of Howard Corporation for the year ended December 31, 2014: Net sales .................................................... $120,000 Net income ..................................................... 30,000 Total assets, January 1, 2014 ..................... 400,000 Total assets, December 31, 2014 .............. 600,000 What was Howard's rate of return on assets for 2014? Group of answer choices 6 percent 20 percent 5 percent 24 percent
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following data were taken from the financial statements of Howard Corporation for the year ended December 31, 2014:
Net sales .................................................... $120,000
Net income ..................................................... 30,000
Total assets, January 1, 2014 ..................... 400,000
Total assets, December 31, 2014 .............. 600,000
What was Howard's
Group of answer choices
6 percent
20 percent
5 percent
24 percent
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