lm Corp has sales of $ 2 , 4 0 0 , 0 0 0 , cost of goods sold is 6 0 of sales, SG A expenses are 2 0 of sales and the company has a 2 5 tax rate On its balance sheet total assets were $ 4 , 9 5 0 , 0 0 0 and total liabilities were $ 2 , 7 5 0 , 0 0 0 What is the return on equity ( ROUND YOUR ANSWER...

Before calculating Return on Equity ROE we need to find Net Income Heres the calcula ...

lm Corp. has sales of $ 2 , 4 0 0 , 0 0 0 , cost

Fantastic news! We've Found the answer you've been seeking!

lm Corp. has sales of $ $2, 400, 000,$ cost of goods sold is $60 %$ of sales, SG&A expenses are $20 %$ of sales and the company has a $25 %$ tax rate. On its balance sheet total assets were $ $4, 950, 000$ and total liabilities were $ $2, 750, 000 .$
What is the return on equity? $($ ROUND YOUR ANSWER TO ONE DECIMAL XX $.$ X $%)$