Profit Margin Assignment | Homework For You
June 8th, 2020
- LeCompte Corp. has $321,900 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $520,000, and its net income after taxes was $20,655. Stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 15%. What profit margin would LeCompte need in order to achieve the 15% ROE, holding everything else constant?Get Finance homework help today