Please correct answer with accounting question Here and Gone, Inc., has sales of $18 million, total assets of $13million, and total debt of $3.8 million. If the profit margin is 8percent,a) what is the net income?b) what is ROA?c) what is ROE?

Step 1: Define Financial RatioProfit margin is the percentage of the net income of the total sales.…

Answered: Here and Gone, Inc., has sales of $18…

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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Here and Gone, Inc., has sales of $18 million, total assets of $13 million, and total debt of $3.8 million. If the profit margin is 8 percent, a) what is the net income? b) what is ROA? c) what is ROE?