Billy Bob Corp.'s sales last year were $4,500,000, its total assets were $1,500,000, common equity was $750,000, total liabilities were $750,000. BBC's ROA was 5.38%, and its equity multiplier (EM) was 2x. What is BBC's ROE? (answer in % format xx.xx to the nearest basis point, with no '%' sign needed.)
ROA = Net Income / Total Assets
.0538 = Net Income / 1500000
Net Income = 1500000 * .0538
= 80700
ROE = net income / shareholders equity
= 80700/750000
= 0.1076
= 10.76%
Billy Bob Corp.'s sales last year were $4,500,000, its total assets were $1,500,000, common equity was...
Billy Bob Corp.'s sales last year were $4,500,000, its total assets were $1,500,000, common equity was $750,000, total liabilities were $750,000. BBC's ROA was 5.38%, and its equity multiplier (EM) was 2x. What is BBC's ROE? (answer in % format xx.xx to the nearest basis point, with no '%' sign needed.)
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