Quinn Company has a debt-equity ratio of 0.7. Return on assets is 8.5 percent, and total equity is $540,000. a. What is the equity multiplier? b. What is the return on equity? c. What is the net income?
Quinn Company has a debt-equity ratio of 0.7. Return on assets is 8.5 percent, and total equity is $540,000. a. What is the equity multiplier? b. What is the return on equity? c. What is the 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 6P
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I need answer Accounting question
![Quinn Company has a debt-equity ratio of 0.7. Return on
assets is 8.5 percent, and total equity is $540,000.
a. What is the equity multiplier?
b. What is the return on equity?
c. What is the net income?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F86881dd7-8942-4d75-8e40-60c4c250300d%2F2ddb768b-9ec8-4d35-a562-ac6af3103a0d%2Fr6tbugh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Quinn Company has a debt-equity ratio of 0.7. Return on
assets is 8.5 percent, and total equity is $540,000.
a. What is the equity multiplier?
b. What is the return on equity?
c. What is the net income?
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