DEF Co. has a sale of $20 million, total assets of $12 million, and total debt...
DEF Co. has a sale of $20 million, total assets of $12 million, and total debt of $5 million. If the profit margin is 6%, what is net income? What is ROA? What is ROE? Show your setup.
Homework Answers
ANSWER
Net Income
= Sales x Profit margin ratio
= $20,000,000 x 6%
= $ 1,200,000
Return on assets
= Net Income / Average total assets
= $ 1,200,000 / $12,000,000
= 10%
Total equity
= Total assets – Total debt
= $12,000,000 - $5,000,000
= $ 7,000,000
Return on equity
= Net Income / Shareholder’s Equity
= $1,200,000 / $ 7,000,000
= 0.171428 or 17.14%
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DEF Co. has a sale of $20 million, total assets of $12 million,
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