View the step-by-step solution to:

Berkeley Corporation showed a profit margin of 6.2% last year on sales of $45,000,000. If its total asset level was $37,000,000 and total debt was

Berkeley Corporation showed a profit margin of 6.2% last year on sales of $45,000,000. If its total asset level was $37,000,000 and total debt was $16,000,000 what was its ROA (return on assets)?


  •  A. 43.243%
  •  B. 7.541%
  •  C. 13.286%
  •  D. 17.438%
  •  E. 14.338%

Top Answer

Here is a detailed explanation... View the full answer

Sign up to view the full answer

Other Answers

The answer is... View the full answer

Let me explain the... View the full answer

1 comment
  • total asset figure corrected: 45000000/ 37000000= 1.2162 * 6.2% = 7.541%
    • payaljain3
    • Jun 01, 2018 at 7:20pm

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online