Homework Answers
| Return on Equity = EBIT Margin x Interest Burden x Tax Burden x Asset Turnover Ratio x Financial Leverage | |
| ROE = (EBIT / Sales) x (EBT / EBIT) x (Net Income / EBT) x (Sales / Total Assets) x (Total Assets / Total Equity) | |
| Year | 2020 |
| EBIT = Groos Income - SG & A Expenses | $ 1,212.00 |
| Sales | $ 19,974.00 |
| EBT = Pretax Income | $ 901.00 |
| Net Income | $ 691.00 |
| Average Total Assets (14,555 + 12,469)/2 | $ 13,512.00 |
| Average Total Equity (5450 + 5427)/2 | $ 5,438.50 |
| EBIT Margin = (EBIT / Sales) = 1212/19974 | 6.07% |
| Interest Burden = EBT/EBIT = 901/1212 | 74.34% |
| Tax Burden = (Net Income / EBT) = 691/901 | 76.69% |
| Asset Turnover Ratio = (Sales / Total Assets) = 19,974/$13,512 | 1.48 |
| Financial Leverage = (Total Assets / Total Equity) = $13,512/ $5,438.50 | 2.48 |
| Return on Equity = EBIT Margin x Interest Burden x Tax Burden x Asset Turnover Ratio x Financial Leverage | 12.71% |
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