Answered: Given the following financial data for…

Given the following financial data for Bank of America (2020): Net Income $17,894 Total Assets $2,832,182 Total Liabilities $2,559,258 The equity multiplier is?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter17: Financial Markets

Section: Chapter Questions

Problem 29CTQ: If you owned a small firm that had become somewhat established, but you needed a surge of financial...

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Question

Given the following financial data for Bank of America (2020):

Net Income $17,894
Total Assets $2,832,182
Total Liabilities $2,559,258

The equity multiplier is? Round answer to two decimal place.

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