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Millers Metalworks, Inc, has a total asset turnover (sales/assets) of 2.5 and a net profit margin (net income/sales) of 3.5%. The total debt ratio (debt/assets)
Millers Metalworks, Inc, has a total asset turnover (sales/assets) of 2.5 and a net profit margin (net income/sales) of 3.5%. The total debt ratio (debt/assets) for the firm is 75%. Calculate Millers's return on equity (net income/equity).
The answer is 35% but I don't know how to get it.
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