Harrison Corporation has an equity multiplier of 2.75 times, total assets of $2,450,000, an ROE of 18.70 percent, and a total asset turnover ratio of 2.90 times. Calculate the firm's sales and ROA. (Round sales to the nearest whole dollar and ROA to 2 decimal places.)

Harrison Corporation has an equity multiplier of 2.75 times, total assets of $2,450,000, an ROE of 18.70 percent, and a total asset turnover ratio of 2.90 times. Calculate the firm's sales and ROA. (Round sales to the nearest whole dollar and ROA to 2 decimal places.)

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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Financial Accounting question

Harrison Corporation has an equity multiplier of 2.75
times, total assets of $2,450,000, an ROE of 18.70
percent, and a total asset turnover ratio of 2.90 times.
Calculate the firm's sales and ROA. (Round sales to the
nearest whole dollar and ROA to 2 decimal places.)

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