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10 Torrid Romance Publishers has total receivables of $3,140, which represents 20 days' sales. Total assets are $114,610. The firm's operating profit margin is 5.6%.
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Torrid Romance Publishers has total receivables of $3,140, which represents 20 days' sales. Total assets are $114,610. The firm's operating profit margin is 5.6%. Find the firm's ROA and asset turnover ratio. Note: Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 2 decimal placesStep by Step Solution
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