Question
Facebook, Inc. reported net income of $400,000 for the year ended December 31st, 2023. During the year, the company's average total assets were $2,500,000, and
Facebook, Inc. reported net income of $400,000 for the year ended December 31st, 2023. During the year, the company's average total assets were $2,500,000, and its average total equity was $1,800,000. Calculate the return on assets (ROA) and return on equity (ROE).
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Survey of Accounting
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
5th edition
1259631125, 978-1259631122
