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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?

Intermediate Financial Management (MindTap Course List)
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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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?
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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