I want to correct answer general accounting question Johnson Manufacturing has a return on assets of 7.2 percent, a total assetturnover rate of 2.1, and a debt-equity ratio of 1.4. What is the return onequity?a. 10.08 percentb. 17.28 percentc. 15.12 percentd. 19.44 percent

Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) is a measure of financial…

Answered: Johnson Manufacturing has a return on…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter13: Capital Structure Concepts

Section: Chapter Questions

Problem 6P

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Johnson Manufacturing has a return on assets of 7.2 percent, a total asset turnover rate of 2.1, and a debt-equity ratio of 1.4. What is the return on equity? a. 10.08 percent b. 17.28 percent c. 15.12 percent d. 19.44 percent