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A business has a debt-equity ratio of 1.50. The return on assets (ROA) is 6.9%, and total equity is $820,000. What is the net income?

A business has a debt-equity ratio of 1.50. The return on assets (ROA) is 6.9%, and total equity is $820,000. What is the net income?

Corporate Fin Focused Approach
Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter3: Analysis Of Financial Statements
Section: Chapter Questions
Problem 8P
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A business has a debt-equity ratio of 1.50. The return on assets (ROA) is 6.9%, and total equity is $820,000. What is the net income?
Transcribed Image Text:A business has a debt-equity ratio of 1.50. The return on assets (ROA) is 6.9%, and total equity is $820,000. What is the net income?
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