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Kidman Corporation has sales of $920, total assets of $580, and a debt/equity ratio of 1.50. If its return on equity is 14 percent, what is its net income?

Kidman Corporation has sales of $920, total assets of $580, and a debt/equity ratio of 1.50. If its return on equity is 14 percent, what is its net income?

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter14: Long-term Liabilities: Bonds And Notes
Section: Chapter Questions
Problem 1PEB: Brower Co. is considering the following alternative financing plans: Income tax is estimated at 40%...
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What is its net income?

Kidman Corporation has sales of $920, total assets of $580, and a debt/equity ratio of 1.50. If its return on equity is 14 percent, what is its net income?
Transcribed Image Text:Kidman Corporation has sales of $920, total assets of $580, and a debt/equity ratio of 1.50. If its return on equity is 14 percent, what is its net income?
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