A Fire Has Destroyed a Large Percentage of the Financial

question 34

Multiple Choice

A fire has destroyed a large percentage of the financial records of the Strongwell Co.You have the task of piecing together information in order to release a financial report.You have found the return on equity to be 13.8 percent.Sales were $979,000,the total debt ratio was 0.42,and total debt was $548,000.What is the return on assets?

• A)6.92 percent
• B)8.00 percent
• C)8.45 percent
• D)9.03 percent
• E)9.29 percent

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