You are considering investing in Nuran Security Services. You have been able to locate the following...
You are considering investing in Nuran Security Services. You have been able to locate the following information on the firm: total assets are $28.00 million, accounts receivable are $2.60 million, ACP is 20 days, net income is $2.80 million, and debt-to-equity is 1.50 times.
Calculate the ROE for the firm. (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Homework Answers
ROE = net income/equity
Debt + equity = total assets
Equity = 28 million/2.50 =$11.2 million
Hence, ROE = 2.80 million/11.2 million
= 25%
Hence, the answer is 25.00%
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