Compute phoenix roe directly

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Reference no: EM131081287

The Phoenix Company has the following results:

Net Sales              $7,000,000

Net Total Assets $5,000,000

Depreciation          $200,000

Net Income            $500,000

Long-Term Debt  $2,500,000

Equity                    $1,800,000

Dividends                 $180,000

Compute Phoenix's ROE directly. Confirm this using the three components (ratios) combined in your computation.

Reference no: EM131081287

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