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Taylor's Men's Wear has a debt-ratio of 42 percent, sales of $749,000, net income of $41,300, and total debt of $198, 400. What is the return on equity? a) 7.79 percent b) 8.41 percent c) 8.74 percent d) 9.09 percent

Taylor's Men's Wear has a debt-ratio of 42 percent, sales of $749,000, net income of $41,300, and total debt of $198, 400. What is the return on equity? a) 7.79 percent b) 8.41 percent c) 8.74 percent d) 9.09 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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What is the return on equity on these accounting question?

Taylor's Men's Wear has a debt-ratio of 42 percent, sales of $749,000, net income of $41,300, and total debt of $198, 400. What is the return on equity? a) 7.79 percent b) 8.41 percent c) 8.74 percent d) 9.09 percent
Transcribed Image Text:Taylor's Men's Wear has a debt-ratio of 42 percent, sales of $749,000, net income of $41,300, and total debt of $198, 400. What is the return on equity? a) 7.79 percent b) 8.41 percent c) 8.74 percent d) 9.09 percent
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