hi expert provide correct answer of this General accounting Zenith Corp. has sales of $8,450, total assets of $3,250,and a debt-equity ratio of 1.25. If its return on equityis 15 percent, what is its net income? (Do not roundintermediate calculations and round your final answerto 2 decimal places, e.g., 32.16.)

Step 1: Define Return on Equity (ROE)Return on Equity (ROE) measures the profitability of a company…

Answered: Zenith Corp. has sales of $8,450, total…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 79E: Ratio Analysis MJO Inc. has the following stockholders equity section of the balance sheet: On the...

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Zenith Corp. has sales of $8,450, total assets of $3,250, and a debt-equity ratio of 1.25. If its return on equity is 15 percent, what is its net income? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)