Get correct answer general accounting Vintage, Inc. has a total asset turnover of 1.55 and anet profit margin of 3.65%. The total assets to equityratio for the firm is 2.4.Calculate Vintage's return on equity. Round theanswers to two decimal places in percentage form.

Explanation: The formula to calculate Return on Equity using DuPont analysis is = Profit margin *…

Answered: Vintage, Inc. has a total asset…

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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Vintage, Inc. has a total asset turnover of 1.55 and a net profit margin of 3.65%. The total assets to equity ratio for the firm is 2.4. Calculate Vintage's return on equity. Round the answers to two decimal places in percentage form.