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National Co. had P24,000,000 in sales last year. The company's net income was P500,000, its total assets turnover was 6.0, and the company's ROE was 15 percent. The company is financed entirely with debt and common equity. What is the company's debt ratio? * A Sample format: 1.111

National Co. had P24,000,000 in sales last year. The company's net income was P500,000, its total assets turnover was 6.0, and the company's ROE was 15 percent. The company is financed entirely with debt and common equity. What is the company's debt ratio? * A Sample format: 1.111

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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National Co. had P24,000,000 in sales last year. The company's net income was P500,000, its total assets turnover was 6.0, and the company's ROE was 15 percent. The company is financed entirely with debt and common equity. What is the company's debt ratio? * Sample format: 1.111
Transcribed Image Text:National Co. had P24,000,000 in sales last year. The company's net income was P500,000, its total assets turnover was 6.0, and the company's ROE was 15 percent. The company is financed entirely with debt and common equity. What is the company's debt ratio? * Sample format: 1.111
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