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Question
A fire has destroyed a large percentage of the financial records of the Carter 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 18 percent. If sales were $4 million, the debt ratio was 0.40, and total liabilities were $2 million, what was the return on assets (ROA)?
a. 10.8%
b. 0.8%
c. 1.25%
d. 12.6%
e. Insufficient information.
Answer
This answer is hidden. It contains 152 characters.
Related questions
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