Provide correct answer general accounting Velocity Industries has a debt-to-equity ratio of1.60, an ROA of 7.5%, and a total equity of $800,000.Calculate the company's equity multiplier, debt ratio,and ROE. (Round the equity multiplier to 2 decimalplaces, the debt ratio to 3 decimal places, and theROE to 1 decimal place.)

Step 1:The equity multiplier is calculated as follows: Equity multiplier = 1 + Debt to equity ratio…

Answered: Velocity Industries has a…

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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Velocity Industries has a debt-to-equity ratio of 1.60, an ROA of 7.5%, and a total equity of $800,000. Calculate the company's equity multiplier, debt ratio, and ROE. (Round the equity multiplier to 2 decimal places, the debt ratio to 3 decimal places, and the ROE to 1 decimal place.)