For the year ended December 31, 2022, Settles Inc. earned an ROI of 12.6%. Sales for the
Question:
For the year ended December 31, 2022, Settles Inc. earned an ROI of 12.6%. Sales for the year were $120 million, and average asset turnover was 2.8. Average stockholders’ equity was $25 million.
Required:
a. Calculate Settles Inc.’s margin and net income.
b. Calculate Settles Inc.’s return on equity.
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a 126 ROI 28 Turnover 45 mar...View the full answer
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