Question
A fire has destroyed a large percentage of the financial records of the Excandesco Company. You have the task of piecing together information in order
A fire has destroyed a large percentage of the financial records of the Excandesco 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 14.5 percent. Sales were $1,740,000, the total debt ratio was .34, and total debt was $649,000. What is the return on assets?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
