Gateway Lodging has annual sales of $1.22 million, total debt of $380,000, total equity of $750,000, and a profit margin of 7.45 %. What is the return on assets?
A) 6.97 %
B) 7.13 %
C) 7.56 %
D) 7.78 %
E) 8.04 %

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The Answer of Gateway Lodging has annual sales of $1.22 million, total debt of $380,000, total equity of $750,000, and a profit margin of 7.45 %. What is the return on assets?
A) 6.97 %
B) 7.13 %
C) 7.56 %
D) 7.78 %
E) 8.04 %

Gateway Lodging Has Annual Sales of $1