Need answer with correct option Samuelson's has a debt-equity ratio of 45 percent,sales of $11,000, net income of $2,300, and total debtof $11,700. What is the return on equity?a. 4.50 percent.b. 20.91 percent.c. 8.85 percent.d. 19.66 percent.e. 6.10 percent.

To calculate the return on equity (ROE), we first need to find the total equity. Debt-equity ratio =…

Answered: Samuelson's has a debt-equity ratio of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Samuelson's has a debt-equity ratio of 45 percent, sales of $11,000, net income of $2,300, and total debt of $11,700. What is the return on equity? a. 4.50 percent. b. 20.91 percent. c. 8.85 percent. d. 19.66 percent. e. 6.10 percent.