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The Purple Martin has annual sales of $4,800, total debt of $1,260, total equity of $2,500, and a profit margin of 7 percent. What is the return on assets?

The Purple Martin has annual sales of $4,800, total debt of $1,260, total equity of $2,500, and a profit margin of 7 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
Chapter7: Analysis Of Financial Statements
Section: Chapter Questions
Problem 6P
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What is the return on assets?

The Purple Martin has annual sales of $4,800, total debt of $1,260, total equity of $2,500, and a profit margin of 7 percent. What is the return on assets?
Transcribed Image Text:The Purple Martin has annual sales of $4,800, total debt of $1,260, total equity of $2,500, and a profit margin of 7 percent. What is the return on assets?
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