Last year, Noan's Coffee Shop had Sales of $36,200; and equity of $21,300. The firm's return on equity was 23%. What was the profit margin for the shop?

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter17: Dynamic Capital Structures And Corporate Valuation
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Last year, Noan's Coffee Shop had Sales of $36,200; and equity of $21,300. The
firm's return on equity was 23%. What was the profit margin for the shop?
Transcribed Image Text:13 Last year, Noan's Coffee Shop had Sales of $36,200; and equity of $21,300. The firm's return on equity was 23%. What was the profit margin for the shop?
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