What is the return on assets-lily cosmetics
Problem:
Lily Cosmetics has annual sales of $500,000,000$5,000,000
maintains a net after tax profit margin of 5% and has a sales-to-assets ratio of 4a. What is its return on assets?b. If its debt/equity ratio is 0.5, what is the return on equity?
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a. What is its return on assets? b. If its debt/equity ratio is 0.5, what is the return on equity?
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