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In 2015, Turnpoint Inc. had net income of $400,000, assets of $5,000,000, sales of $2,000,000, and debt of 2,000,000. In 2016, Turnpoint Inc. had net
In 2015, Turnpoint Inc. had net income of $400,000, assets of $5,000,000, sales of $2,000,000, and debt of 2,000,000. In 2016, Turnpoint Inc. had net income of $700,000, assets of $4,000,000, sales of $1,300,000, and debt of 2,000,000. Did Turnpoint Inc's return on equity improve from 2015 to 2016? (Please Explain Work Done To Get Answer)
A. No
B. Yes
C. Stayed the same
D. Not enough information to answer
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