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Everton Auto Traders has sales of $920,000, total assets of $880,000, and a profit margin of 7.25%. The firm has a total debt ratio of 60%. What is Everton's Return on Equity (ROE)?

Everton Auto Traders has sales of $920,000, total assets of $880,000, and a profit margin of 7.25%. The firm has a total debt ratio of 60%. What is Everton's Return on Equity (ROE)?

Intermediate Financial Management (MindTap Course List)
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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Financial Accounting

Everton Auto Traders has sales of $920,000, total assets of $880,000, and a profit margin of 7.25%. The firm has a total debt ratio of 60%. What is Everton's Return on Equity (ROE)?
Transcribed Image Text:Everton Auto Traders has sales of $920,000, total assets of $880,000, and a profit margin of 7.25%. The firm has a total debt ratio of 60%. What is Everton's Return on Equity (ROE)?
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