Last year, Hassan’s Madhatter, Inc. had an ROA of 8 percent, a profit margin of 14.10...
Last year, Hassan’s Madhatter, Inc. had an ROA of 8 percent, a profit margin of 14.10 percent, and sales of $25 million.
Calculate Hassan’s Madhatter’s total assets. (Enter your answer in dollars, rounded to the nearest dollar.)
Homework Answers
Answer:$44 Millions
Explanation:
Return on Total Assets = Net Income / Total Assets
Return on Total Asset = 8% (Given)
Net Income = 14.10% * $25 Million = $3.53 Million
Total Assets = Net Income / Return on total assets
Total Assets = $3.53 Millions / 8%
Total Assets = $44 Millions
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