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Lexington Corporation has a profit margin of 8% on sales of $30,000,000. The firm's total assets are $20,500,000, and it has debt of $9,800,000. Calculate Lexington Corporation's Return on Assets (ROA).

Lexington Corporation has a profit margin of 8% on sales of $30,000,000. The firm's total assets are $20,500,000, and it has debt of $9,800,000. Calculate Lexington Corporation's Return on Assets (ROA).

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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Lexington Corporation has a profit margin of 8% on sales of $30,000,000. The firm's total assets are $20,500,000, and it has debt of $9,800,000. Calculate Lexington Corporation's Return on Assets (ROA).
Transcribed Image Text:Lexington Corporation has a profit margin of 8% on sales of $30,000,000. The firm's total assets are $20,500,000, and it has debt of $9,800,000. Calculate Lexington Corporation's Return on Assets (ROA).
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