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Skyline Corporation has total sales of $7,350, total assets of $3,200, and a debt-to-equity ratio of 1.40. If the company's return on equity (ROE) is 15%, what is its net income?

Skyline Corporation has total sales of $7,350, total assets of $3,200, and a debt-to-equity ratio of 1.40. If the company's return on equity (ROE) is 15%, what is its net income?

Intermediate Financial Management (MindTap Course List)
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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What is its net income?

Skyline Corporation has total sales of $7,350, total assets of $3,200, and a debt-to-equity ratio of 1.40. If the company's return on equity (ROE) is 15%, what is its net income?
Transcribed Image Text:Skyline Corporation has total sales of $7,350, total assets of $3,200, and a debt-to-equity ratio of 1.40. If the company's return on equity (ROE) is 15%, what is its net income?
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