Problem:
Oscars Dog House has a net income of $460,851, a return on assets of 10.5%, and a equity multiplier of 1.49.
Required:
Question: What is the return on equity?
A. 10.54%
B. 11.63%
C. 12.97%
D. 14.69%
E. 15.64%
Note: Be sure to show how you arrived at your answer.