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Problem 3-22 Profitability Ratios (LG3-4) Rick's Travel Service has asked you to help piece together financial information on the firm for the most current year.
Problem 3-22 Profitability Ratios (LG3-4) Rick's Travel Service has asked you to help piece together financial information on the firm for the most current year. Managers give you the following information: sales are $8.7 million, total debt is $3.50 million, debt ratio is 65 percent, and ROE is 18.5 percent. Using the above information, calculate Rick's ROA. (Round your answer to 2 decimal places.) ROA : %
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