Question
The 2023 annual report for Kingbird Industries Inc. contained the following information: Dec. 31, 2022 Dec. 31, 2023 Total assets $560,000 $602,000 Total liabilities 65,100
The 2023 annual report for Kingbird Industries Inc. contained the following information: Dec. 31, 2022 Dec. 31, 2023 Total assets $560,000 $602,000 Total liabilities 65,100 88,800 Net revenue 340,000 540,000 Net income 54,000 31,000. Calculate the rate of return on assets using profit margin for 2023. (Round answer to 2 decimal). Rate of return on assets %.
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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
