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 %