Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / LeCompte Corp

LeCompte Corp

Accounting

LeCompte Corp. has $312,900 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $620,000, and its net income after taxes was $24,655. Stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 19%. What profit margin would LeCompte need in order to achieve the 19% ROE, holding everything else constant? 
a. 13.665% b. 12.115% *c 11.934% d. 10.775% 

Option 1

Low Cost Option
Download this past answer in few clicks

3.94 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE