Problem:
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 17.5 percent. Sales were $1,815,000, the total debt ratio was 0.34, and total debt was $664,000.
Required:
Question: What is the return on assets (ROA)?
Note: Provide support for rationale.