What was the return on stockholder's equity for 2022 on these financial accounting question? BrightTech Inc. had $3,000,000 in sales for the 2022 year. The company earned8% on each dollar of sales. The company turned over its assets 5 times in 2022.The firm had a debt ratio of 40% in 2022. What was the return on stockholder'sequity for 2022?

Step 1: Define Return on Stockholders' Equity (ROE)Return on Stockholders' Equity (ROE) measures the…

Answered: BrightTech Inc. had $3,000,000 in sales…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter4: Financial Planning And Forecasting

Section: Chapter Questions

Problem 7P

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BrightTech Inc. had $3,000,000 in sales for the 2022 year. The company earned 8% on each dollar of sales. The company turned over its assets 5 times in 2022. The firm had a debt ratio of 40% in 2022. What was the return on stockholder's equity for 2022?