Rembrandt Industries has sales of $843,200, total equity of $390,000, a net profit margin of 8.75 percent, and a debt-equity ratio of 0.85. What is the return on assets?

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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Please provide the correct solution to this financial accounting question using valid principles.

Rembrandt Industries has sales of
$843,200, total equity of $390,000,
a net profit margin of 8.75 percent,
and a debt-equity ratio of 0.85.
What is the return on assets?
Transcribed Image Text:Rembrandt Industries has sales of $843,200, total equity of $390,000, a net profit margin of 8.75 percent, and a debt-equity ratio of 0.85. What is the return on assets?
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