Kizspy | Question: 40
(Choose 1 answer)
Last year Gray Corp. had net sales of $325,000 and a net income of $19,000, and its year-end assets were $250,000. The firm's total debt to total-capital ratio was 45.0 percent. The firm uses only debt and common equity as financing. Based on the DuPont equation, what was the ROE?
Α. 13.8%
B. 14.5%
C. 15.2%
D. 16.0%
