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The Blue Butterfly Café has annual sales of $720,000, total debt of $240,000, total equity of $360,000, and a profit margin of 5.5 percent. What is the return on assets?

The Blue Butterfly Café has annual sales of $720,000, total debt of $240,000, total equity of $360,000, and a profit margin of 5.5 percent. 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
Chapter17: Dynamic Capital Structures And Corporate Valuation
Section: Chapter Questions
Problem 5P
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The Blue Butterfly Café has annual sales of $720,000, total debt of $240,000, total equity of $360,000, and a profit margin of 5.5 percent. What is the return on assets?
Transcribed Image Text:The Blue Butterfly Café has annual sales of $720,000, total debt of $240,000, total equity of $360,000, and a profit margin of 5.5 percent. What is the return on assets?
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