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A company reports sales of $1,200, total assets of $800, and a debt ratio of 0.40. If its return on equity (ROE) is 18%, what is its net income? a) $72.00 b) $86.40 c) $96.00 d) $108.00

A company reports sales of $1,200, total assets of $800, and a debt ratio of 0.40. If its return on equity (ROE) is 18%, what is its net income? a) $72.00 b) $86.40 c) $96.00 d) $108.00

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 2P
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A company reports sales of $1,200, total assets of $800, and a debt ratio of 0.40. If its return on equity (ROE) is 18%, what is its net income? a) $72.00 b) $86.40 c) $96.00 d) $108.00
Transcribed Image Text:A company reports sales of $1,200, total assets of $800, and a debt ratio of 0.40. If its return on equity (ROE) is 18%, what is its net income? a) $72.00 b) $86.40 c) $96.00 d) $108.00
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