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A firm has sales of $800, total assets of $500, and a debt ratio of 0.30. If its return on equity is 18%, what is its net income? a. $15. b. $36. c. $45. d. $63. e. None of the above.

A firm has sales of $800, total assets of $500, and a debt ratio of 0.30. If its return on equity is 18%, what is its net income? a. $15. b. $36. c. $45. d. $63. e. None of the above.

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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A firm has sales of $800 accounting questions

A firm has sales of $800, total assets of $500, and a debt ratio of 0.30. If its return on equity is 18%, what is its net income? a. $15. b. $36. c. $45. d. $63. e. None of the above.
Transcribed Image Text:A firm has sales of $800, total assets of $500, and a debt ratio of 0.30. If its return on equity is 18%, what is its net income? a. $15. b. $36. c. $45. d. $63. e. None of the above.
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