Using the du pont identity the companys roe is


Some recent financial statements for Smolira Golf Corp. follow. SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets Assets Liabilities and Owners’ Equity 2014 2015 2014 2015 Current assets Current liabilities Cash $ 24,246 $ 26,100 Accounts payable $ 25,184 $ 29,100 Accounts receivable 14,448 17,200 Notes payable 20,000 12,800 Inventory 27,992 29,100 Other 13,571 18,100 Total $ 66,686 $ 72,400 Total $ 58,755 $ 60,000 Long-term debt $ 89,000 $ 101,000 Owners’ equity Common stock and paid-in surplus $ 50,000 $ 50,000 Accumulated retained earnings 213,626 226,000 Fixed assets Net plant and equipment $ 344,695 $ 364,600 Total $ 263,626 $ 276,000 Total assets $ 411,381 $ 437,000 Total liabilities and owners’ equity $ 411,381 $ 437,000 SMOLIRA GOLF CORP. 2015 Income Statement Sales $ 360,968 Cost of goods sold 262,500 Depreciation 29,200 Earnings before interest and taxes $ 69,268 Interest paid 16,300 Taxable income $ 52,968 Taxes (20%) 10,594 Net income $ 42,374 Dividends $ 30,000 Retained earnings 12,374 The company's profit margin is percent. (Use year-end figures rather than average values where appropriate. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) The total asset turnover is times. (Round your answer to 2 decimal places, e.g., 32.16.) The equity multiplier is times. (Round your answer to 2 decimal places, e.g., 32.16.) Using the Du Pont Identity, the company's ROE is percent. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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Financial Management: Using the du pont identity the companys roe is
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