Cullumber, Inc., has net income of $20,160,000 on net sales of $480,000,000.The company has total assets of $120,000,000 and stockholders’ equity of $50,000,000. Use the extended DuPont identity to find the return on assets and return on equity for the firm. (Round answers to 2 decimal places, e.g. 12.25 or 12.25%.)Profit margin enter percentages rounded to 2 decimal places%Total assets turnover enter Total assets turnover in times rounded to 2 decimal placestimesROA enter percentages rounded to 2 decimal places%ROE enter percentages rounded to 2 decimal places%

Name: Cullumber, Inc., has net income of $20,160,000 on net sales of $480,00
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Description: Cullumber, Inc., has net income of $20,160,000 on net sales of $480,000,000.The company has total assets of $120,000,000 and stockholders’ equity of $50,000,000. Use the extended DuPont identity to find the return on assets and return on equity for t

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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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Cullumber, Inc., has net income of $20,160,000 on net sales of $480,000,000.The company has total assets of $120,000,000 and stockholders’ equity of $50,000,000. Use the extended DuPont identity to find the return on assets and return on equity for the firm. (Round answers to 2 decimal places, e.g. 12.25 or 12.25%.)

Profit margin	enter percentages rounded to 2 decimal places	%
Total assets turnover	enter Total assets turnover in times rounded to 2 decimal places	times
ROA	enter percentages rounded to 2 decimal places	%
ROE	enter percentages rounded to 2 decimal places	%

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