In 2019, Italia Mining Corporation had sales of ($69) million, total assets of ($45) million, and total
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In 2019, Italia Mining Corporation had sales of \($69\) million, total assets of \($45\) million, and total liabilities of \($23\) million. The interest rate on the debt is 6.5 percent, and its tax rate is 24 percent. The operating profit margin was 14 percent.
What was the company’s operating return on assets and return on equity? Assume that interest must be paid on all of the debt.
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Related Book For
Foundations Of Finance
ISBN: 9781292318738
10th Global Edition
Authors: Arthur Keown, John Martin, J. Petty
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