What is the net income of this financial accounting question? Bristol Supplies has a return on equity of16.5%, a profit margin of 9.8%, and totalequity of $845,000. What is the netincome?

Step 1: Recall the Return on Equity (ROE) formula.ROE = net income / total equity Step 2: Rearrange…

Answered: Bristol Supplies has a return on equity…

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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Bristol Supplies has a return on equity of 16.5%, a profit margin of 9.8%, and total equity of $845,000. What is the net income?