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Norton Pharmaceuticals has a profit margin of 3.5% and an equity multiplier of 2.8. Its sales are $92 million and it has total assets of $64 million. What is its Return on Equity (ROE)? (Round your answer to nearest %)

Norton Pharmaceuticals has a profit margin of 3.5% and an equity multiplier of 2.8. Its sales are $92 million and it has total assets of $64 million. What is its Return on Equity (ROE)? (Round your answer to nearest %)

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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Norton Pharmaceuticals has a profit margin of 3.5% and an equity multiplier of 2.8. Its sales are $92 million and it has total assets of $64 million. What is its Return on Equity (ROE)? (Round your answer to nearest %)
Transcribed Image Text:Norton Pharmaceuticals has a profit margin of 3.5% and an equity multiplier of 2.8. Its sales are $92 million and it has total assets of $64 million. What is its Return on Equity (ROE)? (Round your answer to nearest %)
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