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Profitability Ratios: Meade Publications is a magazine publisher established in Southern California. Financial analysts are concerned about Meade's ability to generate positive returns as printed
Profitability Ratios:
Meade Publications is a magazine publisher established in Southern California. Financial analysts are concerned about Meade's ability to generate positive returns as printed material becomes less popular than digital material. Financial analysts observe the following account balances from Meade to determine financial ratios:
Revenue $1,485,000
Expenses 910,000
Net income 507,500
Assets 937,500
Liabilities 227,500
Average equity 840,000
Required: Compute Meade's return on equity. Round your answer to one decimal place. ________%?
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