Question: Problem 3-33 Return on Assets [LO 2] A fire has destroyed a large percentage of the financial records of the Inferno Company. You have the
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Problem 3-33 Return on Assets [LO 2] 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 16.1 percent. Sales were $1,780,000, the total debt ratio was 31, and total debt was $657,000. What is the return on assets (ROA)? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Return on assets 1%
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