Skaxo has annual sales of $862,600, total liabilities of $178,500, total equity of $404,500, and a profit margin of 5.25 percent. 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 correct answer general accounting

Skaxo has annual sales of $862,600, total liabilities of $178,500,
total equity of $404,500, and a profit margin of 5.25 percent.
What is the return on assets?
Transcribed Image Text:Skaxo has annual sales of $862,600, total liabilities of $178,500, total equity of $404,500, and a profit margin of 5.25 percent. What is the return on assets?
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