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Carson's Sporting Goods has the following financial information: • Debt ratio: 45% • ⚫ Sales: $850,000 ⚫ Net income: $52,500 • Total debt: $225,000 Calculate Carson's return on equity (ROE). a) 8.15% b) 9.25% c) 9.57% d) 10.12%

Carson's Sporting Goods has the following financial information: • Debt ratio: 45% • ⚫ Sales: $850,000 ⚫ Net income: $52,500 • Total debt: $225,000 Calculate Carson's return on equity (ROE). a) 8.15% b) 9.25% c) 9.57% d) 10.12%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Carson's Sporting Goods has the following financial information: • Debt ratio: 45% • ⚫ Sales: $850,000 ⚫ Net income: $52,500 • Total debt: $225,000 Calculate Carson's return on equity (ROE). a) 8.15% b) 9.25% c) 9.57% d) 10.12%
Transcribed Image Text:Carson's Sporting Goods has the following financial information: • Debt ratio: 45% • ⚫ Sales: $850,000 ⚫ Net income: $52,500 • Total debt: $225,000 Calculate Carson's return on equity (ROE). a) 8.15% b) 9.25% c) 9.57% d) 10.12%
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