ABC Company has a total asset turnover of 1.85, a net profit margin of 4.50%, and a total assets to equity ratio of 2.2. Calculate ABC's return on equity. Round the answer to two decimal places in percentage form.

ABC Company has a total asset turnover of 1.85, a net profit margin of 4.50%, and a total assets to equity ratio of 2.2. Calculate ABC's return on equity. Round the answer to two decimal places in percentage form.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 6CP: The average liabilities, average stockholders' equity, and average total assets are as follows: 1....

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ABC Company has a total asset turnover of 1.85, a net profit margin of 4.50%,
and a total assets to equity ratio of 2.2. Calculate ABC's return on equity.
Round the answer to two decimal places in percentage form.

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