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Author Question: LeCompte Corp. has $406,000 of assets, and it uses only common equity capital (zero debt). Its sales ... (Read 94 times)

urmomsucks

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on: Aug 7, 2023

Question 1

Last year, Vaughn Corp. had sales of $462,000 and a net income of $20,540, and its year-end assets were $331,000. The firm’s total-debt-to-total-assets ratio was 46.0%. Based on the DuPont equation, what was Vaughn’s ROE?

◦

10.05%


◦

11.53%


◦

12.65%


◦

13.78%



Question 2

LeCompte Corp. has $406,000 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $750,000, and its net income after taxes was $30,200. Shareholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 18%. What profit margin would LeCompte need in order to achieve the 18% ROE, holding everything else constant?

◦

9.52%


◦

9.60%


◦

9.74%


◦

9.88%

Financial Management: Theory and Practice ¦ Brigham, Ehrhardt, Gessaroli, Nason ¦ 4th Edition
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Marked as best answer by urmomsucks on Aug 7, 2023

athenaheim

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Reply #1 on: Aug 7, 2023
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urmomsucks

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Reply 2 on: Aug 7, 2023
Great answer, keep it coming :)

patma1981

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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