B D E foundations of Financial Management 2 Block, Hirt, Danielson and Short: Eleventh Canadian Edition 3 4 Problem 3-1 (LO 1) 5 Calculate profitability ratios 6 7 Student Name: 8 Course Name: 9 Student ID: 10 Course Number: 11 12 Griffey Junior Wear Inc. has $800,000 in assets and $200,000 of debt. It reports net income of $100,000 13 14 a. What is the retum on assets? 15 16 b. What is the retum on shareholders' equity? 17 18 c. If the firm has an asset tumover ratio of 2.75 times, what is the profit margin? 19 20 21 22 23 24 25 26 27 28 29