Question for the year ended december 31 2016 settles inc, Ask an Expert

Accounting

Question: For the year ended December 31, 2016, Settles, Inc., earned an ROI of 10.4%. Sales for the year were $15 million, and average asset turnover was 2.6. Average stockholders' equity was $3.3 million.

Required: a. Calculate Settles, Inc.'s margin and net income. (Round "Margin" answer to 1 decimal place.)

Margin %

Net income

b. Calculate Settles, Inc.'s return on equity. (Round your answer to 1 decimal place.)

Return on equity %

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M93075747

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