Rainbow Company has a debt-equity ratio of 1.36. Return on assets is 7.61 percent, and total equity is $680,000. What is the net income?

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter3: Analysis Of Financial Statements
Section: Chapter Questions
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Hi expert please give me answer general accounting

Rainbow Company has a debt-equity ratio
of 1.36. Return on assets is 7.61 percent,
and total equity is $680,000. What is the
net income?
Transcribed Image Text:Rainbow Company has a debt-equity ratio of 1.36. Return on assets is 7.61 percent, and total equity is $680,000. What is the net income?
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