Please Provide General Accounting Question Soluion World Exports has total assets of $938,280,a total asset turnover rate of 1.18, a debt-equity ratio of 0.47, and a return on equityof 18.7 percent. What is the firm's netincome?a. $119,359.43b. $88,303.33c. $104,624.14d. $121,548.09e. $92,236.67

Step 1: Define Net Income:A company's net income is its remainder of revenue after business expenses…

Answered: World Exports has total assets of…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 8P

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World Exports has total assets of $938,280, a total asset turnover rate of 1.18, a debt- equity ratio of 0.47, and a return on equity of 18.7 percent. What is the firm's net income? a. $119,359.43 b. $88,303.33 c. $104,624.14 d. $121,548.09 e. $92,236.67