Please explain how to solve: Last year Smith Corp. had sales of $315,000 and a net income
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Please explain how to solve:
Last year Smith Corp. had sales of $315,000 and a net income of $17,832, and its year-end assets were $210,000. The firm's total-debt-to-total-assets ratio was 40%. Based on the DuPont equation, what was Smith ROE?
Select the correct answer.
a. 13.73% b. 13.31% c. 14.15% d. 14.57% e. 14.99%
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