A company has a total debt-equity ratio of 60%, sales of $2,400,000, net income of $120,000, and total liabilities of $480,000. What is the return on equity?

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A: Step 1: Definition of Gain or Loss on Sale of AssetGain or loss on the sale of an asset occurs when…

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A: Step 1: Define Cash Conversion Cycle (CCC)The Cash Conversion Cycle (CCC) measures the time it takes…

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A: Step 1: Definition of Asset Turnover RatioThe asset turnover ratio is a financial metric that…

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A: Step 1: Definition of Process CostingProcess costing is a cost accounting method used by companies…

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A: Step 1: Definition of Cash FlowCash flow represents the net amount of cash generated by a business…

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A: Given Data:Current Liabilities = $520,000Quick Ratio = 0.95Inventory Turnover = 6.2Current Ratio =…

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A: Step 1: Define Direct Labor Rate VarianceThe Direct Labor Rate Variance measures the difference…

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A: Step 1: Definition of Arithmetic Average Annual ReturnThe Arithmetic Average Annual Return is the…

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A: Step 1: Define Price Per Share in an IPOThe initial public offering (IPO) price per share is the…

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A: Step 1: Define Absorption vs. Variable Costing DifferencesThe difference in net income between…

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A: Step 1: Define  Cash Conversion CycleThe Cash Conversion Cycle (CCC) measures the time (in days) a…