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Shelton Company has a debt-equity ratio of 1.42. Return on assets is 7.67 percent, and total equity is $710,000. A) What is the equity multiplier? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) B) What is the return on equity? (Do not round intermediate calculations and give your answer as a percent rounded to 2 decimal places, e.g., 32.16.) C) What is the net income? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Shelton Company has a debt-equity ratio of 1.42. Return on assets is 7.67 percent, and total equity is $710,000. A) What is the equity multiplier? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) B) What is the return on equity? (Do not round intermediate calculations and give your answer as a percent rounded to 2 decimal places, e.g., 32.16.) C) What is the net income? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

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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Shelton Company has a debt-equity ratio of 1.42. Return on assets is 7.67 percent, and total equity is $710,000. A) What is the equity multiplier? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) B) What is the return on equity? (Do not round intermediate calculations and give your answer as a percent rounded to 2 decimal places, e.g., 32.16.) C) What is the net income? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Transcribed Image Text:Shelton Company has a debt-equity ratio of 1.42. Return on assets is 7.67 percent, and total equity is $710,000. A) What is the equity multiplier? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) B) What is the return on equity? (Do not round intermediate calculations and give your answer as a percent rounded to 2 decimal places, e.g., 32.16.) C) What is the net income? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
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