What is the net income? Y3K, Inc., has sales of $6.259, total assets of$2,875, and a debt-equity ratio of 1.70. If itsreturn on equity is 13 percent, what is its netincome? ~(Do not round intermediatecalculations and round your final answer to2 decimal places, e.g., 32.16.) Net income $

Equity = Total Assets / (1 + Debt-Equity Ratio)Calculation: Equity = $2,875 / (1 + 1.70) = $2,875 /…

Answered: Y3K, Inc., has sales of $6.259, total…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 6P

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Q. 1 Y3K, Inc., has sales of $6,209, total assets of $2,825, and a debt-equity ratio of 1.10. If its return on equity is 11 percent, what is its net income? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Y3K, Incorporated, has sales of $6,269, total assets of $2,885, and a debt-equity ratio of 1.80. If its return on equity is 12 percent, what is its net income? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Net income
Y3K, Inc., has sales of $6,329, total assets of $2,945, and a debt-equity ratio of 1.40. If its return on equity is 14 percent, what is its net income? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Net income
Y3K, Inc., has sales of $3,300, total assets of $1,520, and a debt-equity ratio of 1.35. If its return on equity is 14 percent, what is its net income? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Need answer the accounting question
Q. 1 Y3K, Inc. has sales of $7425, total assets of $3,500, and a debt-equity ratio of 0.29. Assume the return on equity is 20% What is the net income? (DO NOT round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16) Step 1 Given information, Sales =$6,209 Total assets=$2,825 Debt-equity ratio(D/E)=1.10 Return on equity =11% arrow_forward Step 2 Return on equity(ROE) = (Profit margin)(Total asset turnover)(Equity multiplier) = (Profit margin)(Sales / Total assets)(1 + D/E) Therefore, Profit margin = [(Return on equity)(Total assets)] / [(1 + D/E)(Sales)] =[0.11*2,825]/[( 1 + 1.1)*6,209] =310.75/13,038.9 =0.0238325 Hence, Net income = Sales *profit margin =$6,209* 0.0238 =$147.98 But I am getting an error saying this answer is complete but not entirely correct?
Please Provide Solution of this Question with Round 2 Decimal places
General Accounting
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What is its net income?
Y3K, Inc., has sales of $4,600, total assets of $3,070, and a debt-equity ratio of 1.60. If its return on equity is 17 percent, what its net income? Multiple Choice $782.00 $521.90 $66.76 $200.73 $133.97
Y3K, Incorporated, has sales of $5,000, total assets of $3,200, and a debt-equity ratio of 1.10. If its return on equity is 14 percent, what its net income? Multiple Choice о O $76.80 $448.00 $136.53 $700.00 ڈے

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