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Skyline Motors has annual sales of $5,500, total debt of $1,200, total equity of $2,800, and a profit margin of 8%. What is the return on assets (ROA)?

Skyline Motors has annual sales of $5,500, total debt of $1,200, total equity of $2,800, and a profit margin of 8%. What is the return on assets (ROA)?

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 7P: Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its...
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Skyline Motors has annual sales of $5,500, total debt of $1,200, total equity of $2,800, and a profit margin of 8%. What is the return on assets (ROA)?
Transcribed Image Text:Skyline Motors has annual sales of $5,500, total debt of $1,200, total equity of $2,800, and a profit margin of 8%. What is the return on assets (ROA)?
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