ABC Corp has sales of $8,450, total assets of $3,720, and a debt-equity ratio of 1.65. If its return on equity is 15 percent, what is its net income? (Do not round intermediate calculations and round the final answer to 2 decimal places.)

ABC Corp has sales of $8,450, total assets of $3,720, and a debt-equity ratio of 1.65. If its return on equity is 15 percent, what is its net income? (Do not round intermediate calculations and round the final answer to 2 decimal places.)

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 6CP: The average liabilities, average stockholders' equity, and average total assets are as follows: 1....

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General Accounting

ABC Corp has sales of $8,450, total assets of $3,720, and a
debt-equity ratio of 1.65. If its return on equity is 15
percent, what is its net income? (Do not round
intermediate calculations and round the final answer to 2
decimal places.)

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