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If Garson Rooters Inc. has an equity multiplier of 1.45, total asset turnover of 1.80, and a profit margin of 5.5%, what is its ROE?
If Garson Rooters Inc. has an equity multiplier of 1.45, total asset turnover of 1.80, and a profit margin of 5.5%, what is its ROE? (Round the final answer to 2 decimal places.) ROE % Some recent financial statements for Earl Grey Golf Corp. follow Assets 2018 Current assets Cash Accounts receivable Inventory Total $ 27,429 10, 880 EARL GREY GOLF CORP. 2017 and 2018 Statement of Financial Position Liabilities and Owners' Equity 2017 2018 2017 Current liabilities $ 24,046 $ 24, 255 Accounts payable $ 23, 184 12,448 15,235 Notes payable 12,000 25,392 27,155 Other 11,571 $ 61,886 $ 66,645 Total $ 46,755 Long-term debt $ 88,888 Owners' equity $324,695 $365,734 Common stock and paid-in surplus $ 40,000 Retained earnings 219,826 Total $259,826 $386,581 $432,379 Total liabilities and owners' equity $386,581 15,553 $ 53,773 $ 95, ees Fixed assets Net plant and equipment $ 40,000 243, 606 $283, 686 $432,379 Total assets Sales Cost of goods sold Depreciation Earnings before interest and tax Interest paid Taxable income Taxes (35%) Net income Dividends Additions to retained earnings $366,996 253,122 32,220 $ 81,654 14,300 $ 67,354 23,574 $ 43, 780 $ 20,000 23, 780 The company's profit margin is percent (Use year-end figures rather than average values where appropriate. Do not include the percent sign (%). Round the final answer to 2 decimal places.) Total asset turnover is times. (Round the final answer to 3 decimal places.) Equity multiplier is (Round the final answer to 2 decimal places.) Using the Du Pont Identity, the company's ROE IS percent. (Do not include the percent sian (%). Round the final answer to 2 decimal places.)
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