Anant Enterprises has sales of $750, total assets of $450, and a debt/equity ratio of 1.80. If its return on equity is 12 percent, what is its net income?

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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Financial accounting 2.0

Anant Enterprises has sales
of $750, total assets of $450,
and a debt/equity ratio of
1.80. If its return on equity is
12 percent, what is its net
income?
Transcribed Image Text:Anant Enterprises has sales of $750, total assets of $450, and a debt/equity ratio of 1.80. If its return on equity is 12 percent, what is its net income?
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