Hima company has a debt-equity ratio of Hima Company has a debt-equity ratio of 0.56. Return on assets is 9.27percent, and total equity is $923,000.a. What is the company's equity multiplier?b. What is the company's return on equity?c. What is the company's net income?

(a) Equity Multiplier (EM)The equity multiplier is given by:Equity Multiplier=1+Debt/EquitySince the…

Answered: Hima Company has a debt-equity ratio 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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Hima Company has a debt-equity ratio of 0.56. Return on assets is 9.27 percent, and total equity is $923,000. a. What is the company's equity multiplier? b. What is the company's return on equity? c. What is the company's net income?