Suppose that Granite Hills Minerals had: Sales = $3,450,000 Net Income = $186,300 Total Assets = $2,150,000 = Total Equity $1,075,000 For the year ending December 31, 2023. Calculate the Return on Equity (ROE) using the Du Pont Identity.
Suppose that Granite Hills Minerals had: Sales = $3,450,000 Net Income = $186,300 Total Assets = $2,150,000 = Total Equity $1,075,000 For the year ending December 31, 2023. Calculate the Return on Equity (ROE) using the Du Pont Identity.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Calculate the return on equity of this accounting question

Transcribed Image Text:Suppose that Granite Hills Minerals had:
Sales = $3,450,000
Net Income = $186,300
Total Assets = $2,150,000
=
Total Equity $1,075,000
For the year ending December 31,
2023.
Calculate the Return on Equity (ROE) using the Du Pont Identity.
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