Needham Pharmaceuticals has a profit margin of 6% and an equity multiplier of 2.5. Its sales are $110 million and it has total assets of $42 million. What is its Return on Equity (ROE)? Round your answer to two decimal places.

Needham Pharmaceuticals has a profit margin of 6% and an equity multiplier of 2.5. Its sales are $110 million and it has total assets of $42 million. What is its Return on Equity (ROE)? Round your answer to two decimal places.

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 5P: Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 2.0. Its sales are...

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I need answer of this question financial accounting

Needham Pharmaceuticals has a profit margin of
6% and an equity multiplier of 2.5. Its sales are
$110 million and it has total assets of $42 million.
What is its Return on Equity (ROE)? Round your
answer to two decimal places.

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