Fondren Machine Tools has total assets of $3,180,000 and current assets of $882,000. It turns over Its fixed assets 1.8 times per year. Its return on sales is 5.5 percent. It has $1,410,000 of debt. What is its return on stockholders' equilty? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Return on stockholders' equity
Fondren Machine Tools has total assets of $3,180,000 and current assets of $882,000. It turns over Its fixed assets 1.8 times per year. Its return on sales is 5.5 percent. It has $1,410,000 of debt. What is its return on stockholders' equilty? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Return on stockholders' equity
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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![Fondren Machine Tools has total assets of $3,180,000 and current assets of $882,000. It turns over Its fixed assets 1.8 times per year.
Its return on sales is 5.5 percent. It has $1,410,000 of debt.
What is its return on stockholders' equlty? (Do not round Intermediate calculations. Input your answer as a percent rounded to 2
decimal places.)
Return on stockholders' equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F151ef907-e8fd-4ecd-9105-17e19208a238%2Fc69b3ce3-44d7-4a11-adfc-6ae7914a05f7%2Fc6pf5fr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Fondren Machine Tools has total assets of $3,180,000 and current assets of $882,000. It turns over Its fixed assets 1.8 times per year.
Its return on sales is 5.5 percent. It has $1,410,000 of debt.
What is its return on stockholders' equlty? (Do not round Intermediate calculations. Input your answer as a percent rounded to 2
decimal places.)
Return on stockholders' equity
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