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Saddle Industries has sales of $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?

Saddle Industries has sales of $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?

Intermediate Financial Management (MindTap Course List)
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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What is the return on assets?

Saddle Industries has sales of $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?
Transcribed Image Text:Saddle Industries has sales of $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?
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