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The Horizon Builders Inc. has total assets of $40 million and total liabilities of $15 million. The company has a profit margin of 10.5% on sales of $60 million. What is the company's return on equity?

The Horizon Builders Inc. has total assets of $40 million and total liabilities of $15 million. The company has a profit margin of 10.5% on sales of $60 million. What is the company's return on equity?

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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The Horizon Builders Inc. has total assets of $40 million and total liabilities of $15 million. The company has a profit margin of 10.5% on sales of $60 million. What is the company's return on equity?
Transcribed Image Text:The Horizon Builders Inc. has total assets of $40 million and total liabilities of $15 million. The company has a profit margin of 10.5% on sales of $60 million. What is the company's return on equity?
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