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Fondren Machine Tools has total assets of $3,880,000 and current assets of $874,000. It turns over its fixed assets 2.4 times per year. Its
Fondren Machine Tools has total assets of $3,880,000 and current assets of $874,000. It turns over its fixed assets 2.4 times per year. Its return on sales is 6.8 percent. It has $1,430,000 of debt. What is its return on stockholders' equity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Return on stockholders' equity %
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