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The Purple Martin has annual sales of $4,700, total debt of $1,230, total equity of $2,400, and a profit margin of 6 percent. What is the return on assets? a. 6 percent b. 11.75 percent c. 7.77 percent d. 22.93 percent e. 10.09 percent

The Purple Martin has annual sales of $4,700, total debt of $1,230, total equity of $2,400, and a profit margin of 6 percent. What is the return on assets? a. 6 percent b. 11.75 percent c. 7.77 percent d. 22.93 percent e. 10.09 percent

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 15MC: If current assets are $112,000 and current liabilities are $56,000, what is the current ratio? A....
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The Purple Martin has annual sales of $4,700, total debt of $1,230, total equity of $2,400, and a profit margin of 6 percent. What is the return on assets? a. 6 percent b. 11.75 percent c. 7.77 percent d. 22.93 percent e. 10.09 percent
Transcribed Image Text:The Purple Martin has annual sales of $4,700, total debt of $1,230, total equity of $2,400, and a profit margin of 6 percent. What is the return on assets? a. 6 percent b. 11.75 percent c. 7.77 percent d. 22.93 percent e. 10.09 percent
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