I need assistance with this financial accounting question using appropriate principles. Last year, Apex Corp had sales of$420,000, net income of $18,900, andyear-end assets of $280,000. The firm'stotal liabilities to total assets ratio is 25%.Based on the DuPont equation, what is theROE (Return on Equity)?

Concept of DuPont Equation:The DuPont Equation is a financial formula that breaks down Return on…

Answered: Last year, Apex Corp had sales of…

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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Last year, Apex Corp had sales of $420,000, net income of $18,900, and year-end assets of $280,000. The firm's total liabilities to total assets ratio is 25%. Based on the DuPont equation, what is the ROE (Return on Equity)?