Last year Hassans Madhatter Inc had an ROA of 6 percent a pr

Last year, Hassan’s Madhatter, Inc., had an ROA of 6 percent, a profit margin of 12.80 percent, and sales of $15 million. Calculate Hassan’s Madhatter’s total assets. (Enter your answer in millions.) Total assets $ m

Answer = $32 million

Explanation:

ROA = NI/assets

Profit margin = 12.8%

Sales = $15 million

Profit = NI = $15 × 12.8% = 1.92

ROA = NI/assets

0.06 = 1.92/assets

Assets = 1.92/0.06

Assets = $32 million

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Last year, Hassan’s Madhatter, Inc., had an ROA of 6 percent, a profit margin of 12.80 percent, and sales of $15 million. Calculate Hassan’s Madhatter’s total a

Last year Hassans Madhatter Inc had an ROA of 6 percent a pr

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