FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Suppose in its 2022 annual report that McDonald's Corporation reports beginning total assets of $29.25 billion, ending total assets of
$30.75 billion, net sales of $21.30 billion, and net income of $3.90 billion.
(a) Compute McDonald's return on assets. (Round return on assets to 2 decimal places, e.g. 5.12%.)
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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Transcribed Image Text:Suppose in its 2022 annual report that McDonald's Corporation reports beginning total assets of $29.25 billion, ending total assets of $30.75 billion, net sales of $21.30 billion, and net income of $3.90 billion. (a) Compute McDonald's return on assets. (Round return on assets to 2 decimal places, e.g. 5.12%.) 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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