Scipio Garage has a debt to asset ratio of 40 percent, sales of $8,000, net income...
Scipio Garage has a debt to asset ratio of 40 percent, sales of $8,000, net income of $600, and total debt of $2,400. What is its return on equity. Enter you answer in whole numbers. For example, enter 10% as 10.
Homework Answers
Debt/asset = 0.4
Asset = 2400/0.4 = 6000
Equity = asset-debt = 6000-2400 = 3600
ROE = net income/equity = 600/3600 = 16.67%
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Scipio Garage has a debt to asset ratio of 40 percent, sales of
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