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Intermediate Financial Management (MindTap Course List)

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 6P

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Solve this accounting problem

A firm has a return on equity of 22
percent. The total asset turnover is 2.9
and the profit margin is 5 percent. The
total equity is $7,500. What is the
amount of the net income?

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