Solve this financial accounting problem Diamond Dynamics, Inc. has sales of $22.5 million, totalassets of $18.4 million, and total debt of $7.9 million. Theprofit margin is 6.5 percent.1. What is net income?2. What is ROA?3. What is ROE?

Explanation of Net Income: Net income represents the profit a company generates after deducting all…

Answered: Diamond Dynamics, Inc. has sales of…

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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Diamond Dynamics, Inc. has sales of $22.5 million, total assets of $18.4 million, and total debt of $7.9 million. The profit margin is 6.5 percent. 1. What is net income? 2. What is ROA? 3. What is ROE?