Please solve this problem general accounting question The Westfield Corporation has equity of $365,000, sales of$875,000, and a profit margin of 5.4 percent. What is the returnon equity?

Step 1: Define Return on Equity (ROE)Return on Equity (ROE) is a measure of profitability relative…

Answered: The Westfield Corporation has equity of…

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 Westfield Corporation has equity of $365,000, sales of $875,000, and a profit margin of 5.4 percent. What is the return on equity?