For the year ended December 31, 2022, Settles Inc. earned an ROI of 12.6%. Sales for the

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For the year ended December 31, 2022, Settles Inc. earned an ROI of 12.6%. Sales for the year were $120 million, and average asset turnover was 2.8. Average stockholders’ equity was $25 million.

Required:
a. Calculate Settles Inc.’s margin and net income.
b. Calculate Settles Inc.’s return on equity.

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Accounting What The Numbers Mean

ISBN: 9781264126743

13th Edition

Authors: David Marshall

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Question Posted: Oct 18, 2022 03:16 AM

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For the year ended December 31, 2022, Settles Inc. earned an ROI of 12.6%. Sales for the

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a 126 ROI 28 Turnover 45 mar...View the full answer

Accounting What The Numbers Mean

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