What is it's ROE on these financial accounting? Nova Edge Enterprises has a profit margin of 6% and anequity multiplier of 1.8. Its sales are $300 million, and ithas total assets of $150 million. What is its ROE (Returnon Equity)?

To calculate the Return on Equity (ROE), we use the formula: ROE = Profit Margin × Asset Turnover ×…

Answered: Nova Edge Enterprises 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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Nova Edge Enterprises has a profit margin of 6% and an equity multiplier of 1.8. Its sales are $300 million, and it has total assets of $150 million. What is its ROE (Return on Equity)?