Question
Last year ABC Corp. had sales of $525,000 and a net income of $12,600, and its year-end assets were $100,000. The firm's total-liabilities-to-total-assets ratio was
Last year ABC Corp. had sales of $525,000 and a net income of $12,600, and its year-end assets were $100,000. The firm's total-liabilities-to-total-assets ratio was 50.00%. Based on the DuPont equation, what was ABC's ROE? Show your answer in this format: 12.34%
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