A firm has a profit margin of 7% and an equity multiplier of 1.9. Its sales are $230 million, and it has total assets of $92 million. What is its ROE? Do not round intermediate calculations. Round your answer to two decimal places.

A firm has a profit margin of 7% and an equity multiplier of 1.9. Its sales are $230 million, and it has total assets of $92 million. What is its ROE? Do not round intermediate calculations. Round your answer to two decimal places.

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 5P: Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 2.0. Its sales are...

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