Wims, Inc., has sales of $18.4 million, total assets of $13.4 million and total debt of $4.2 million. The profit margin is 12 percent. a. What is the company's net income? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e. g., 1,234,567.) b. What is the company's ROA? (Do not round intermediate calculations and enter your answer as a percent rounded 2 decimal places, e. g., 32.16.) c. What is the company's ROE? (Do not round intermediate calculations and enter your answer as a percent rounded 2 decimal places, e. g., 32.16.)

(A) $2,208,000

(B) 16.48%

(C) 24%

Explanation:

Wims incorporation has a sales of $18.4 million

Total assets of $13.4 million and total debt of $4.2 million

The profit margin is 12%

(A) The net income can be calculated as follows

= profit margin × sales

= 12/100 × 18,400,000

= 0.12 × 18,400,000

= $2,208,000

(B) The ROA can be calculated as follows

= Net income/Average assets × 100

= 2,208,000/ 13,400,000

= 0.16477 ×100

= 16.48%

(C) The ROE can be calculated as follows

= Net income / Total equity

Total equity= 13,400,000-4,200,000

= $9,200,000

= $2,208,000/9,200,000 × 100

= 0.24 × 100

= 24%

idk

explanation:

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