A firm has sales of $500, total assets of $300, and a debt/equity ratio of 2.00. If its return on equity is 15 percent, what is its net income?

Foundations of Business (MindTap Course List)
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Chapter15: Using Management And Accounting Information
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Answer? ? Financial accounting

A firm has sales of $500, total assets of $300, and a
debt/equity ratio of 2.00. If its return on equity is 15
percent, what is its net income?
Transcribed Image Text:A firm has sales of $500, total assets of $300, and a debt/equity ratio of 2.00. If its return on equity is 15 percent, what is its net income?
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