A fire has destroyed a large percentage of the financial records of the Inferno Company. You have

Question:

A fire has destroyed a large percentage of the financial records of the Inferno Company. You have the task of piecing together information in order to release a financial report. You have found the return on equity to be 16.5 percent. Sales were $1,625,000, the total debt ratio was 0.30, and total debt was $648,000. What is the return on assets (ROA)?

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

Step by Step Answer:

Related Book For  book-img-for-question

Essentials Of Corporate Finance

ISBN: 9780073405131

6th Edition

Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan

Question Posted: