Last year, Apex Innovations had an ROA of 12.5 percent, a profit margin of 15.6 percent, and sales of $25 million. Calculate Apex Innovations' total assets.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter12: Balanced Scorecard And Other Performance Measures
Section: Chapter Questions
Problem 5EB: During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of...
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Last year, Apex Innovations had an ROA of
12.5 percent, a profit margin of 15.6 percent,
and sales of $25 million. Calculate Apex
Innovations' total assets.
Transcribed Image Text:Last year, Apex Innovations had an ROA of 12.5 percent, a profit margin of 15.6 percent, and sales of $25 million. Calculate Apex Innovations' total assets.
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