Dwayne Enterprises has a return on equity of 18 percent. The total asset turnover is 2.5 and the profit margin is 6 percent. The total equity is $9,200. What is the amount of the 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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What is the amount of the net income?

Dwayne Enterprises has a return on
equity of 18 percent. The total asset
turnover is 2.5 and the profit margin
is 6 percent. The total equity is
$9,200. What is the amount of the net
income?
Transcribed Image Text:Dwayne Enterprises has a return on equity of 18 percent. The total asset turnover is 2.5 and the profit margin is 6 percent. The total equity is $9,200. What is the amount of the net income?
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