Rocky Dog, Inc. has total equity of $950,000, sales of $3.52 million, and a profit margin of 6.1 percent. What is the return on equity?

Rocky Dog, Inc. has total equity of $950,000, sales of $3.52 million, and a profit margin of 6.1 percent. What is the return on equity? Illustrate your approach to solving the problem

Rocky Dog, Inc. has total equity of $950,000, sales of $3.52 million, and a profit margin of 6.1 percent. What is the return on equity?Profit Margin.061 = Net IncomeNet Sales = Net Income…