Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. a fire has destroyed a large percentage of the fin

A fire has destroyed a large percentage of the financial records of the Inferno Company....

80.2K

Verified Solution

Question

Finance

A fire has destroyed a large percentage of the financial records of the Inferno Company. You have the task of piecing together information in order to release a financial report. You have found the return on equity to be 15.5 percent. Sales were $1,765,000, the total debt ratio was .34, and total debt was $654,000. What is the return on assets (ROA)? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. Return on assets %
image
A fire has destroyed a large percentage of the financial records of the Inferno Company. You have the task of piecing together information in order to release a financial report. You have found the return on equity to be 15.5 percent. Sales were $1,765,000, the total debt ratio was .34 , and total debt was $654,000. What is the return on assets (ROA)? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

Finally use the even odd identity sin u sin u to rewrite the expression as...

Biology
1.2K views

In higher order protista and eukaryota, the nuclear membrane dissolves completely, and the process is...

Physics
1.2K views

A bob is suspended by a string of length 1 m The bob is given...

Geometry
1.2K views

The measure of arc LM is The measure of angle MBL is The measure of...

Geometry
1.2K views

What is mGJ 75 G mGJ H O 100 J I 60

Statistics
1.2K views

The least squares regression equation is y 787 1x 12 501 where y is the...

Calculus
1.2K views

Use the following graph of H to find each limit When necessary state that the...

Accounting
1.2K views

3. Public administration is said to be ubiquitous, explain. (20 Marks)

Finance
1.2K views

Violet Sky Technology has issued bonds, common stock, and preferred stock. The YTM for the...

Accounting
1.2K views

Cullumber Looms Inc. took a physical inventory at the end of the year and determined...

Accounting
1.2K views

Please give one example of permanent differences. Will permanent differences reverse in the following accounting...

Finance
1.2K views

CH7: Kendra Enterprises has never paid a dividend. Free cash flow is projected to be...