Abc 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.

To calculate Vintage, Inc.'s Return on Equity (ROE) using the given information, we can use the…

Answered: Vintage, Inc. has a total asset…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 2P

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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.