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Taylor's Men's Wear has a debt-equity ratio of 80 percent, sales of $902,000, net income of $39,810, and total debt of $185,900. What is the return on equity? a. 17.13 percent b. 14.40 percent c. 21.29 percent d. 7.32 percent e. 9.74 percent

Taylor's Men's Wear has a debt-equity ratio of 80 percent, sales of $902,000, net income of $39,810, and total debt of $185,900. What is the return on equity? a. 17.13 percent b. 14.40 percent c. 21.29 percent d. 7.32 percent e. 9.74 percent

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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Taylor's Men's Wear has a debt-equity ratio of 80 percent, sales of $902,000, net income of $39,810, and total debt of $185,900. What is the return on equity? a. 17.13 percent b. 14.40 percent c. 21.29 percent d. 7.32 percent e. 9.74 percent
Transcribed Image Text:Taylor's Men's Wear has a debt-equity ratio of 80 percent, sales of $902,000, net income of $39,810, and total debt of $185,900. What is the return on equity? a. 17.13 percent b. 14.40 percent c. 21.29 percent d. 7.32 percent e. 9.74 percent
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