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Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 2.1. Its sales are $80 million and it has total assets of $56 million. What is its Return on Equity (ROE)?

Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 2.1. Its sales are $80 million and it has total assets of $56 million. What is its Return on Equity (ROE)?

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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Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 2.1. Its sales are $80 million and it has total assets of $56 million. What is its Return on Equity (ROE)?
Transcribed Image Text:Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 2.1. Its sales are $80 million and it has total assets of $56 million. What is its Return on Equity (ROE)?
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