Hello tutor please provide correct answer financial accounting Y3K, Inc., has sales of $6,269, total assets of $2,885, anda debt-equity ratio of 1.80. If its return on equity is 12percent, what is its net income? (Do not roundintermediate calculations and round the final answer to2 decimal places.)

Step 1: Define Profit MarginA corporation's profitability and financial stability are largely…

Answered: Y3K, Inc., has sales of $6,269, total…

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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Y3K, Incorporated, has sales of $7,475, total assets of $3,525, and a debt - equity ratio of .34. Assume the return on equity is 20 percent. What is its net income? Note: 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
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Y3K, Inc., 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 the final answer to 2 decimal places.)