Solved: Taylor partridge earned an roi of 14 percent calculate, Accounting Basics

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Taylor partridge earned an roi of 14 percent calculate

Problem

For the year ended December 31, 2013, Taylor & Partridge, earned an ROI of 14%. Sales for the year were $18 million, and average asset turnover was 2. Average stockholders' equity was $2.5 million.

Required:

a. Calculate Taylor & Partridge's margin and net income. (Round your "margin" answer to 1 decimal place (i.e., 32.1).)

b. Calculate Taylor & Partridge's return on equity. (Round your answer to 1 decimal place. (e.g., 32.1))

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Accounting Basics: Taylor partridge earned an roi of 14 percent calculate

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