of Saddle Industries has sales $625,400, total equity of $275,000, a net profit margin of 9.25 percent, and a debt-equity ratio of 0.70. What is the return on assets? Answer: 12.38%

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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Question

What is the return on assets ?

of
Saddle Industries has sales
$625,400, total equity of $275,000,
a net profit margin of 9.25 percent,
and a debt-equity ratio of 0.70. What
is the return on assets?
Answer: 12.38%
Transcribed Image Text:of Saddle Industries has sales $625,400, total equity of $275,000, a net profit margin of 9.25 percent, and a debt-equity ratio of 0.70. What is the return on assets? Answer: 12.38%
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