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show your work A company has $400,000 of assets and has no liabilities. Its sales for the last year were $600,000 and its net income
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A company has $400,000 of assets and has no liabilities. Its sales for the last year were $600,000 and its net income was $25,000. Stockholders recently voted in a new management team that promises to lower costs and get the return on equity up to 15 percent. The net profit margin the company needs to achieve 15 percent return on equity, holding everything else constant, is closest A. 5 percent B. 10 percent. C. 15 percentStep by Step Solution
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