Financial Accounting: Last year Vaughn Corp. had sales of $306,000 and a net income of $19,335, and its year-end assets were $225,000. The firm's total debt-to-total assets ratio was 30%. Based on the DuPont equation, what was Vaughn's ROE?

Financial Accounting: Last year Vaughn Corp. had sales of $306,000 and a net income of $19,335, and its year-end assets were $225,000. The firm's total debt-to-total assets ratio was 30%. Based on the DuPont equation, what was Vaughn's ROE?

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 2P: Vigo Vacations has $200 million in total assets, $5 million in notes payable, and $25 million in...

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