Fondren Machine Tools has total assets of $3,420,000 and current assets of $803,000. It turns over its fixed assets 1.4 times per year. Its return on sales is 5.4 percent. It has $1,630,000 of debt.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
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Fondren Machine Tools has total assets of $3,420,000 and current assets of $803,000. It turns over its fixed assets 1.4 times per
year. Its return on sales is 5.4 percent. It has $1,630,000 of debt.
What is its return on stockholders' equity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2
decimal places.)
Return on stockholders' equity
%
Transcribed Image Text:es Fondren Machine Tools has total assets of $3,420,000 and current assets of $803,000. It turns over its fixed assets 1.4 times per year. Its return on sales is 5.4 percent. It has $1,630,000 of debt. What is its return on stockholders' equity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Return on stockholders' equity %
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