Lee Sun's has sales of $3,880, total assets of $3,250, and a profit margin of 5 percent. The firm has a total debt ratio of 40 percent. What is the return on equity?
Lee Sun's has sales of $3,880, total assets of $3,250, and a profit margin of 5 percent. The firm has a total debt ratio of 40 percent. What is the return on equity?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the return on equity ??
Transcribed Image Text:Lee Sun's has sales of $3,880, total assets of
$3,250, and a profit margin of 5 percent. The
firm has a total debt ratio of 40 percent. What
is the return on equity?
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