Griffin's Goat Farm, Inc., has sales of $681,000, costs of $350,000, depreciation expense of $78,000, interest expense of $48,500, and a tax rate of 24 percent. What is the net income for this firm? (Do not round intermediate calculations.)
Financial Ratios
A Ratio refers to a figure calculated as a reference to the relationship of two or more numbers and can be expressed as a fraction, proportion, percentage, or the number of times. When the number is determined by taking two accounting numbers derived from the financial statements, it is termed as the accounting ratio.
Return on Equity
The Return on Equity (RoE) is a measure of the profitability of a business concerning the funds by its stockholders/shareholders. ROE is a metric used generally to determine how well the company utilizes its funds provided by the equity shareholders.
Griffin's Goat Farm, Inc., has sales of $681,000, costs of $350,000,
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