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?

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A: Step 1: Definition of Economic Order Quantity (EOQ)EOQ is the optimal quantity of stock that a…

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A: GIVEN: Predetermined Overhead Rate:Variable Overhead Rate: $6 per direct labor hourFixed Overhead…

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A: Explanation of Predetermined Overhead Rate: This is a rate calculated before the accounting period…

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A: Step 1: Define Return on EquityIn this financial ratio, the net income is compared with the…

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A: Step 1: Define Net IncomeNet income is the amount a company earns from revenues less its expenses.…

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A: To calculate the stockholders' equity, we use the basic accounting equation: Assets = Liabilities +…

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A: To calculate the change in total assets, we use the accounting equation: Assets = Liabilities +…

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A: Step 1: Define Variance AnalysisThe difference between the standard and actual cost is calculated…

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A: Step 1:First calculate the earnings per share: Earnings per share = Net income / Number of shares…

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A: Step 1: Define Share BuybackIn a share repurchase, the firm purchases the shares of its current…

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A: Step 1:1. The break-even volume for SHC is calculated as follows: Break-even volume = Fixed cost /…

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A: Step 1: Define Installment NoteA borrowed money in exchange for issuing a note is to record as notes…

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A: Step 1: Understanding Lower-of-Cost-or-Market (LCM)The Lower-of-Cost-or-Market (LCM) rule requires…

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A: Book ValueThe book value of an asset represents its value on the company's accounting records. It is…

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A: Step 1: Define Income Tax ExpenseThe amount of tax that an individual or entity needs to pay over…

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A: Step 1: Definition of Expense AllocationExpense allocation involves distributing indirect costs,…

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A: Step 1: Define Net IncomeIn the context of accounting, the net income for a firm is ascertained by…

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A: Step 1: Definition of Operating Profit (or Loss)Operating Profit: This is the income earned after…

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A: Step 1: Define Net IncomeA company's net income is presented in the last line of its income…

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A: To calculate the ending long-term debt, we can use the following formula: Ending Long-Term Debt =…

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A: Step 1: Define Net IncomeTo calculate the net income all the expenses are deducted from the sales…