Problem 3-2
Problem 3-2 Calculati Pngrofitability Ratios [LO 2]
| Here and Gone, Inc., has sales of $19.5 million, total assets of $14.5 million, and total debt of $5.3 million. Assume the profit margin is 8 percent. |
| Requirement 1: |
| What is net income? (Do not include the dollar sign ($). Enter your answer in dollars, not millions of dollars (e.g., 1,234,567).) |
| Requirement 2: |
| What is ROA? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).) |
| Requirement 3: |
| What is ROE? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).) |
[LO 2]
| Here and Gone, Inc., has sales of $19.5 million, total assets of $14.5 million, and total debt of $5.3 million. Assume the profit margin is 8 percent. |
| Requirement 1: |
| What is net income? (Do not include the dollar sign ($). Enter your answer in dollars, not millions of dollars (e.g., 1,234,567).) |
| Requirement 2: |
| What is ROA? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).) |
| Requirement 3: |
| What is ROE? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).) |
