Question
Fortinbras Exports has a net income of $45 million, total equity of $12 million, a debt to equity ratio of 0.5, and a retention rate
Fortinbras Exports has a net income of $45 million, total equity of $12 million, a debt to equity ratio of 0.5, and a retention rate of 65%, The company's ROA is closest to:
| A. | 5.625%. | |
| B. | 2.500%. | |
| C. | 3.656%. |
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
8th Canadian Edition
978-1119502425
