Hello tutor answer these general accounting question not use ai and chatgpt please don't A firm has a profit margin of 4.5% and an equity multiplier of2.0. Its sales are $450 million, and it has total assets of $135million. What is its ROE? Round the answer to two decimalplaces.

Step 1: Define Equity MultiplierThe equity multiplier serves as a metric to assess the level of…

Answered: A firm has a profit margin of 4.5% and…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 6P

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A firm has a profit margin of 4.5% and an equity multiplier of 2.0. Its sales are $450 million, and it has total assets of $135 million. What is its ROE? Round the answer to two decimal places.