RY Corporation had a profit margin of 6.25%, a total assets turnover of 1.5, and an equity multiplier of 1.8.  What was the firm’s return on equity?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
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RY Corporation had a profit margin of 6.25%, a total assets turnover of 1.5, and an equity multiplier of 1.8.  What was the firm’s return on equity?

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