Question
Dimeback Co. has total assets of $8,500,000 and a total asset turnover of 1.8 times. If
the return on assets is 8.5 percent.
Required:
What is its profit margin? (Do not round intermediate calculations. Round your answer
to 2 decimal places (e.g., 32.16).)
Profit margin

Image Transcription

Dimeback Co. has total assets of $8,500,000 and a total asset turnover of 1.8 times. If the return on assets is 8.5 percent. Required: What is its profit margin? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Profit margin

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