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The Purple Martin has annual sales of $4,900, total debt of $1,390, total equity of $2,400, and a profit margin of 6 percent. What is the return on assets?

The Purple Martin has annual sales of $4,900, total debt of $1,390, total equity of $2,400, and a profit margin of 6 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 2P: Vigo Vacations has $200 million in total assets, $5 million in notes payable, and $25 million in...
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The Purple Martin has annual sales of $4,900, total debt of $1,390, total equity of $2,400, and a profit margin of 6 percent. What is the return on assets?
Transcribed Image Text:The Purple Martin has annual sales of $4,900, total debt of $1,390, total equity of $2,400, and a profit margin of 6 percent. What is the return on assets?
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