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Vintage, Inc. has a total asset turnover of 1.08 and a net profit margin of 3.18 per cent. The total assets to equity ratio for the firm is 2.4. Calculate Vintage's return on equity.

Vintage, Inc. has a total asset turnover of 1.08 and a net profit margin of 3.18 per cent. The total assets to equity ratio for the firm is 2.4. Calculate Vintage's return on equity.

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 6MCQ
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Vintage, Inc. has a total asset turnover of 1.08 and a net profit margin of 3.18 per cent. The total assets to equity ratio for the firm is 2.4. Calculate Vintage's return on equity.
Transcribed Image Text:Vintage, Inc. has a total asset turnover of 1.08 and a net profit margin of 3.18 per cent. The total assets to equity ratio for the firm is 2.4. Calculate Vintage's return on equity.
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