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Q1) Meryl Corporation's common stock is presently selling at $100 per share, that represents a P/E ratio of 10. If firm has 100 shares of common stock outstanding, return on equity of 20 percent, and debt ratio of 60 percent, determine its return on total assets (ROA)?

a. 8.0%
b. 10.0%
c. 12.0%
d. 16.7%
e. 20.0%

Accounting Basics, Accounting

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