Please solve the accounting problem World Exports has total assets of $955,250, a total assetturnover rate of 1.32, a debt-equity ratio of 0.49, and areturn on equity of 19.3 percent. What is the firm's netincome?(a) $123,733.72(b) $138,303.33(c) $104,624.14(d) $121,548.09(e) $122,236.67

Step 1: Total Liabilities and Equity Debt to equity ratio = Liabilities/EquityDebt to equity ratio =…

Answered: World Exports has total assets of…

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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World Exports has total assets of $955,250, a total asset turnover rate of 1.32, a debt-equity ratio of 0.49, and a return on equity of 19.3 percent. What is the firm's net income? (a) $123,733.72 (b) $138,303.33 (c) $104,624.14 (d) $121,548.09 (e) $122,236.67