EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN: 9781337514835
Author: MOYER
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Hi teacher please help me this question general accounting
Transcribed Image Text:For the year ended December 31, 2016, Settles,
Inc., earned an ROI of 10.0%. Sales for the year
were $11 million, and average asset turnover was
2.5. Average stockholders' equity was $2.7
million. Calculate Settles, Inc.'s return on equity.
(Round the answer to 1 decimal place.)
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