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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
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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?
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