Horizon Industries has a debt-to-equity ratio of 0.85. Its return on assets is 9.4%, and total equity is $950,000. What is the company's net income?
Horizon Industries has a debt-to-equity ratio of 0.85. Its return on assets is 9.4%, and total equity is $950,000. What is the company's 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 2P: Vigo Vacations has $200 million in total assets, $5 million in notes payable, and $25 million in...
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general accounting

Transcribed Image Text:Horizon Industries has a debt-to-equity ratio of 0.85. Its return on
assets is 9.4%, and total equity is $950,000. What is the company's net
income?
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