What is the return on assets? A retail business has total sales of $950,000, totalequity of $625,000, a profit margin of 5.2%, and adebt-equity ratio of 0.65%. What is the return onassets?

To calculate the Return on Assets (ROA), we use the formula: ROA=Net Income/Total Assets Step 1:…

Answered: A retail business has total sales of…

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 retail business has total sales of $950,000, total equity of $625,000, a profit margin of 5.2%, and a debt-equity ratio of 0.65%. What is the return on assets?