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The most recent financial statements for Minnie's Manufacturing Co. are shown below: Balance Sheet Income Statement 91,800 Current Sales $ assets 66,450 Costs Fixed assets
The most recent financial statements for Minnie's Manufacturing Co. are shown below: Balance Sheet Income Statement 91,800 Current Sales $ assets 66,450 Costs Fixed assets $32,500 Debt $ 42,600 93,500 Equity 83,400 25,350 Taxable income $ Total 126,000 $ Total $126,000 Tax (22%) 5,577 Net Income $19,773 Assets and costs are proportional to sales. Debt and equity are not The company maintains a constant 40 percent dividend payout ratio. No external financing is possible. What is the ROA? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) ROA 1,659.00%
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