Ricks Travel Service has asked you to help piece together financial information on the firm for the

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Rick’s Travel Service has asked you to help piece together financial information on the firm for the most current year. Managers give you the following information: sales are $8.2 million, total debt is $2.1 million, debt ratio is 40 percent, and ROE is 18 percent. Using this information, calculate Rick’s ROA.

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Finance Applications and Theory

ISBN: 978-0077861681

3rd edition

Authors: Marcia Cornett, Troy Adair

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