Multiple Choice
A fire has destroyed a large percentage of the financial records of the Strongwell Co.You have the task of piecing together information in order to release a financial report.You have found the return on equity to be 13.8 percent.Sales were $979,000, the total debt ratio was .42, and total debt was $548,000.What is the return on assets?
A) 6.92 percent
B) 8.00 percent
C) 8.45 percent
D) 9.03 percent
E) 9.29 percent
Correct Answer:
Verified
Correct Answer:
Verified
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