Last Year Harrington Inc

question 40

Multiple Choice

Last year Harrington Inc.had 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 15.0%.The firm finances using only debt and common equity and its total assets equal total invested capital.Based on the DuPont equation,what was the ROE? Do not round your intermediate calculations.

• A) 11.09%
• B) 8.85%
• C) 8.94%
• D) 9.03%
• E) 7.42%

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