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2. (6) A firm has sales of $60,000,000, assets of $2,000,000, profits of $1,800,000, a profit margin of 3 percent, a sales/asset turnover ratio of
2. (6) A firm has sales of $60,000,000, assets of $2,000,000, profits of $1,800,000, a profit margin of 3 percent, a sales/asset turnover ratio of 30 times, and a debt/asset ratio of 25 percent. a. What is the firm's return on assets? b. What is the firm's return on equity
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