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 6P
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Transcribed Image Text: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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