Answered: Golden Ridge Enterprises has annual… | bartleby

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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Question

What is the return on assets for this general accounting question?

Golden Ridge Enterprises has annual sales of $6,500, total debt of
$1,800, total equity of $3,000, and a profit margin of 8 percent. What
is the return on assets?

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