# a. What is the profit margin f

## Problem 3-21 Profit Margin [LO4]

 In response to complaints about high prices, a grocery chain runs the following advertising campaign: “If you pay your child \$4 to go buy \$100 worth of groceries, then your child makes twice as much on the trip as we do.” You’ve collected the following information from the grocery chain’s financial statements:

 (\$ in millions) Sales \$ 640.0 Net income 12.8 Total assets 370.0 Total debt 240.0

 a. What is the profit margin for the child as a percentage of what they spend and the profit margin for the store? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the store’s ROE? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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