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Mike's Place has total assets of $152,080, a debt-equity ratio of 0.62, and a net income of $14,342 What is the return on equity? a) 13.48 percent b) 14.61 percent c) 15.28 percent d) 13.73 percent e) 15.74 percent

Mike's Place has total assets of $152,080, a debt-equity ratio of 0.62, and a net income of $14,342 What is the return on equity? a) 13.48 percent b) 14.61 percent c) 15.28 percent d) 13.73 percent e) 15.74 percent

EBK CFIN
EBK CFIN
6th Edition
ISBN:9781337671743
Author:BESLEY
Publisher:BESLEY
Chapter2: Analysis Of Financial Statements
Section: Chapter Questions
Problem 16PROB
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Mike's Place has total assets of $152,080, a debt-equity ratio of 0.62, and a net income of $14,342 What is the return on equity? a) 13.48 percent b) 14.61 percent c) 15.28 percent d) 13.73 percent e) 15.74 percent
Transcribed Image Text:Mike's Place has total assets of $152,080, a debt-equity ratio of 0.62, and a net income of $14,342 What is the return on equity? a) 13.48 percent b) 14.61 percent c) 15.28 percent d) 13.73 percent e) 15.74 percent
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