Homework Help is Here – Start Your Trial Now!
Business
Accounting
Thompson Corp. has a total debt ratio of 45%, total debt of $245,000, and net income of $38,000. What is the company's return on equity?

Thompson Corp. has a total debt ratio of 45%, total debt of $245,000, and net income of $38,000. What is the company's return on equity?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 2P
See similar textbooks
icon
Related questions
Question

What is the company's return on equity on these general accounting question?

Thompson Corp. has a total debt ratio of 45%, total debt of $245,000, and net income of $38,000. What is the company's return on equity?
Transcribed Image Text:Thompson Corp. has a total debt ratio of 45%, total debt of $245,000, and net income of $38,000. What is the company's return on equity?
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Intermediate Financial Management (MindTap Course…
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS