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

To find Skyline Corporation's net income, we need to calculate its equity and then use the return on…

Answered: Skyline Corporation has total sales of…

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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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?