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Norwich Systems reports a profit margin of 8.5% on sales of $18,000,000. The firm has total assets of $20,400,000. What is Norwich's Return on Assets (ROA)? (Give your answer as a percent, rounded to 2 decimal places.) A. 7.50% B. 6.70% C. 8.80% D. 7.50% E. 9.20%

Norwich Systems reports a profit margin of 8.5% on sales of $18,000,000. The firm has total assets of $20,400,000. What is Norwich's Return on Assets (ROA)? (Give your answer as a percent, rounded to 2 decimal places.) A. 7.50% B. 6.70% C. 8.80% D. 7.50% E. 9.20%

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 51E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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general accounting
Norwich Systems reports a profit margin of 8.5% on sales of $18,000,000. The firm has total assets of $20,400,000. What is Norwich's Return on Assets (ROA)? (Give your answer as a percent, rounded to 2 decimal places.) A. 7.50% B. 6.70% C. 8.80% D. 7.50% E. 9.20%
Transcribed Image Text:Norwich Systems reports a profit margin of 8.5% on sales of $18,000,000. The firm has total assets of $20,400,000. What is Norwich's Return on Assets (ROA)? (Give your answer as a percent, rounded to 2 decimal places.) A. 7.50% B. 6.70% C. 8.80% D. 7.50% E. 9.20%
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