What is the net income? General accounting Sunshine Rentals has a debt-equity ratio of 0.84. Return onassets is 7.9 percent, and total equity is $438,000.What is the net income?A. $41,147.09B. $54,311.29C. $63,667.68D. $48,887.02E. $50,458.95

Step 1: Definition of Net IncomeNet income is the profit a company earns after deducting all…

Answered: Sunshine Rentals has a debt-equity…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Sunshine Rentals has a debt-equity ratio of 0.84. Return on assets is 7.9 percent, and total equity is $438,000. What is the net income? A. $41,147.09 B. $54,311.29 C. $63,667.68 D. $48,887.02 E. $50,458.95