Tech Innovations has a net income of $220,000. The firm has $2.5 million in assets and $1 million in liabilities. What is the return on equity?
Tech Innovations has a net income of $220,000. The firm has $2.5 million in assets and $1 million in liabilities. What is the return on equity?
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 8P
Related questions
Question
What is the return on equity?

Transcribed Image Text:Tech Innovations has a net
income of $220,000. The
firm has $2.5 million in
assets and $1 million in
liabilities. What is the return
on equity?
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps

Recommended textbooks for you

EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT

Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning

EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT

Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning