I need answer of this question general accounting Needham Pharmaceuticals has a profit margin of6% 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 youranswer to two decimal places.

ROE = Net Profit Margin x Asset Turnover x Equity MultiplierROE = 6%*110/42*2.5 = 39%Net profit…

Answered: Needham Pharmaceuticals has a profit…

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 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.