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A fire has destroyed a large percentage of the financial records of the Carter Health System. You have the task of piecing together information to prepare a financial report. You have found the profit margin to be 5.4 percent. If sales were $4 million on total assets of $2 million, and the amount of debt financing was $800,000, what was Carter's return on equity (ROE)? (Hint: Use the Du Pont equation to answer this question.)

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Accounting Basics, Accounting

Category:- Accounting Basics
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