Problem 1. Last year Justine Corp. had sales of P315,000 and a net income of P17,832, and its year-end assets were P210,000. Justine's total-debt-to-total-assets ratio was 42.5%. Based on the Du Pont equation, what was Justine's return on equity (ROE)?

Problem 1. Last year Justine Corp. had sales of P315,000 and a net income of P17,832, and its year-end assets were P210,000. Justine's total-debt-to-total-assets ratio was 42.5%. Based on the Du Pont equation, what was Justine's return on equity (ROE)?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Problem 1. Last year Justine Corp. had sales of P315,000 and a net income of P17,832, and its
year-end assets were P210,000. Justine's total-debt-to-total-assets ratio was 42.5%. Based on
the Du Pont equation, what was Justine's return on equity (ROE)?

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