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Last year Altman Corp. had $318,000 of assets, $421,000 of sales, $29,810 of net income, and a ...

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Last year Altman Corp. had $318,000 of assets, $421,000 of sales, $29,810 of net income, and a ...

Last year Altman Corp. had $318,000 of assets, $421,000 of sales, $29,810 of net income, and a debt-to-total-assets ratio of 45%. The new CFO believes the firm has excessive fixed assets and inventory that could be sold, enabling it to reduce its total assets to $203,000. Sales, costs, and net income would not be affected, and the firm would maintain the 45% debt ratio. By how much would the reduction in assets improve the ROE?

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9.66%

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10.15%

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10.42%

▸

10.70%

Textbook

Financial Management: Theory and Practice

Edition: 4^th

Authors: Brigham, Ehrhardt, Gessaroli, Nason

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