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TOM's has annual sales of $415,200, total debt of $91,000, total equity of $126,000, and a profit margin of 6.97 percent. What is the return on assets? A) 11.29 percent B) 13.34 percent C) 9.94 percent D) 12.78 percent E) 19.02 percent

TOM's has annual sales of $415,200, total debt of $91,000, total equity of $126,000, and a profit margin of 6.97 percent. What is the return on assets? A) 11.29 percent B) 13.34 percent C) 9.94 percent D) 12.78 percent E) 19.02 percent

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 51E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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TOM's has annual sales of $415,200, total debt of $91,000, total equity of $126,000, and a profit margin of 6.97 percent. What is the return on assets? A) 11.29 percent B) 13.34 percent C) 9.94 percent D) 12.78 percent E) 19.02 percent
Transcribed Image Text:TOM's has annual sales of $415,200, total debt of $91,000, total equity of $126,000, and a profit margin of 6.97 percent. What is the return on assets? A) 11.29 percent B) 13.34 percent C) 9.94 percent D) 12.78 percent E) 19.02 percent
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