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Last year, Thompson's Toy Company had an ROA of 8.5 percent, a profit margin of 12.5 percent, and sales of $15 million. Calculate Thompson's Toy Company's total assets. (Enter your answer in millions.)

Last year, Thompson's Toy Company had an ROA of 8.5 percent, a profit margin of 12.5 percent, and sales of $15 million. Calculate Thompson's Toy Company's total assets. (Enter your answer in millions.)

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter12: Balanced Scorecard And Other Performance Measures
Section: Chapter Questions
Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...
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Last year, Thompson's Toy Company had an ROA of 8.5 percent, a profit margin of 12.5 percent, and sales of $15 million. Calculate Thompson's Toy Company's total assets. (Enter your answer in millions.)
Transcribed Image Text:Last year, Thompson's Toy Company had an ROA of 8.5 percent, a profit margin of 12.5 percent, and sales of $15 million. Calculate Thompson's Toy Company's total assets. (Enter your answer in millions.)
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