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Canine Supply has sales of $2,200, total assets of $1,400, and an equity multiplier of 1.3. Its return on equity is 15%. What is the income? A. $138.16 B. $141.41 C. $152.09 D. $156.67 E. $161.54

Canine Supply has sales of $2,200, total assets of $1,400, and an equity multiplier of 1.3. Its return on equity is 15%. What is the income? A. $138.16 B. $141.41 C. $152.09 D. $156.67 E. $161.54

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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What is the income on these general accounting question?

Canine Supply has sales of $2,200, total assets of $1,400, and an equity multiplier of 1.3. Its return on equity is 15%. What is the income? A. $138.16 B. $141.41 C. $152.09 D. $156.67 E. $161.54
Transcribed Image Text:Canine Supply has sales of $2,200, total assets of $1,400, and an equity multiplier of 1.3. Its return on equity is 15%. What is the income? A. $138.16 B. $141.41 C. $152.09 D. $156.67 E. $161.54
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