Grossman Enterprises has an equity multiplier of 3.08 times, total assets of $1,596,000, an ROE of 15.10 percent, and a total asset turnover ratio of 3.15 times. Calculate the firm's sales and ROA. (Round sales to the nearest whole dollar, e.g. 125 and ROA to 2 decimal places, e.g. 15.25%.)

Grossman Enterprises has an equity multiplier of 3.08 times, total assets of $1,596,000, an ROE of 15.10 percent, and a total asset turnover ratio of 3.15 times. Calculate the firm's sales and ROA. (Round sales to the nearest whole dollar, e.g. 125 and ROA to 2 decimal places, e.g. 15.25%.)

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 12P: The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of...

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Question

I want to this question answer general Accounting

Grossman Enterprises has an equity multiplier of
3.08 times, total assets of $1,596,000, an ROE of
15.10 percent, and a total asset turnover ratio of
3.15 times. Calculate the firm's sales and ROA.
(Round sales to the nearest whole dollar, e.g. 125
and ROA to 2 decimal places, e.g. 15.25%.)

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