A firm has a profit margin of 15 percent on sales of


A firm has a profit margin of 15 percent on sales of $20,000,000. If the firm has total debt of $7,500,000, total assets of $22,500,000, what is the firm’s Return on Equity [ROE]? show work

a.   10.9%

b.   12.0%

c.   13.3%

d.   20.0%

e.   40.0%

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Financial Accounting: A firm has a profit margin of 15 percent on sales of
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