What is return on equity, Novio the Cat Incorporated

What is return on equity

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Reference no: EM131880417

Novio the Cat Incorporated reported sales of $119,487,000.00 in 2012. The firm had a net profit margin of 3.00% on these sales. The firm also reports $96,000,000 in assets for the year, with shareholder equity measure at $23,223,000.00. What is the return on equity (ROE) for Novio in 2012?

Answer Format: Percentage Round to: 2 decimal places

Reference no: EM131880417

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