Answered: ABC Company has a net income of…

ABC Company has a net income of $118,653, a return on assets of 7.37 percent, and a debt-equity ratio of 0.69. What is the return on equity? Round your answer to two decimal places.

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 7P: Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its...

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Abc company has...accounting questions

ABC Company has a net income of $118,653, a return on assets of
7.37 percent, and a debt-equity ratio of 0.69. What is the return on
equity?
Round your answer to two decimal places.

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