For the year ended December 31, 2022, Settles Incorporated earned an ROI of 7.6%. Sales for...

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For the year ended December 31, 2022, Settles Incorporated earned an ROI of 7.6%. Sales for the year were $9.5 million, and average asset turnover was 1.9. Average stockholders' equity was $2.5 million. Required: a. Calculate Settles Incorporated's margin and net income. Note: Round "Margin" answer to 1 decimal place. Enter the net income answer in dollars, i.e., $5 million should be entered as 5,000,000. b. Calculate Settles Incorporated's return on equity. Note: Round your answer to 1 decimal place. a. Margin a. Net income % b. Return on equity % For the year ended December 31, 2022, Settles Incorporated earned an ROI of 7.6%. Sales for the year were $9.5 million, and average asset turnover was 1.9. Average stockholders' equity was $2.5 million. Required: a. Calculate Settles Incorporated's margin and net income. Note: Round "Margin" answer to 1 decimal place. Enter the net income answer in dollars, i.e., $5 million should be entered as 5,000,000. b. Calculate Settles Incorporated's return on equity. Note: Round your answer to 1 decimal place. a. Margin a. Net income % b. Return on equity %

Answer rating: 100% (QA)

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