8. Needham Pharmaceuticals has a profit margin of 3.5% and an equity multiplier of 1.6. Its...
8. Needham Pharmaceuticals has a profit margin of 3.5% and an equity multiplier of 1.6. Its sales are $110 million and it has total assets of $52 million. What is its Return on Equity (ROE)? Round your answer to two decimal places.
Ans: ___________%
Homework Answers
total asset turnover=Sales/total asset
=(110/52)=2.11538462
ROE=profit margin*total asset turnover*equity multiplier
=3.5*2.11538462*1.6
=11.85%(Approx).
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