Hi teacher please help me this question general accounting For the year ended December 31, 2016, Settles,Inc., earned an ROI of 10.0%. Sales for the yearwere $11 million, and average asset turnover was2.5. Average stockholders' equity was $2.7million. Calculate Settles, Inc.'s return on equity.(Round the answer to 1 decimal place.)

Step 1: Define Return On EquityReturn on equity can be determined using the basic formula or DuPont,…

Answered: For the year ended December 31, 2016,…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

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Chapter3: Evaluation Of Financial Performance

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For the year ended December 31, 2016, Settles, Inc., earned an ROI of 10.0%. Sales for the year were $11 million, and average asset turnover was 2.5. Average stockholders' equity was $2.7 million. Calculate Settles, Inc.'s return on equity. (Round the answer to 1 decimal place.)