Last Year Gray Corp

question 107

Multiple Choice

Last year Gray Corp. had net sales of $325,000 and a net income of $19,000, and its year-end assets were $250,000. The firm's total-debt-to-total-capital ratio was 45.0%. The firm uses only debt and common equity as financing. Based on the DuPont equation, what was the ROE?

• A) 13.82%
• B) 14.51%
• C) 15.23%
• D) 16.00%

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