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Y3K, Inc., has sales of $6,199, total assets of $2,815, and a debt equity ratio of 1.20. If its return on equity is 12 percent, what is its net income?

Y3K, Inc., has sales of $6,199, total assets of $2,815, and a debt equity ratio of 1.20. If its return on equity is 12 percent, what is its net income?

Intermediate Financial Management (MindTap Course List)
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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What is its net income?

Y3K, Inc., has sales of $6,199, total assets of $2,815, and a debt equity ratio of 1.20. If its return on equity is 12 percent, what is its net income?
Transcribed Image Text:Y3K, Inc., has sales of $6,199, total assets of $2,815, and a debt equity ratio of 1.20. If its return on equity is 12 percent, what is its net income?
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