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)
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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