Frank's Used Cars has sales of $807,200, total assets of $768,100, and a profit margin of 6.68 percent. The firm has a total debt ratio of 54 percent. What is the return on equity? A) 13.09 percent B) 12.04 percent C) 11.03 percent D) 8.56 percent E) 15.26 percent

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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What is the return on equity?

Frank's Used Cars has sales of
$807,200, total assets of $768,100,
and a profit margin of 6.68 percent.
The firm has a total debt ratio of 54
percent. What is the return on
equity?
A) 13.09 percent
B) 12.04 percent
C) 11.03 percent
D) 8.56 percent
E) 15.26 percent
Transcribed Image Text:Frank's Used Cars has sales of $807,200, total assets of $768,100, and a profit margin of 6.68 percent. The firm has a total debt ratio of 54 percent. What is the return on equity? A) 13.09 percent B) 12.04 percent C) 11.03 percent D) 8.56 percent E) 15.26 percent
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