You are thinking of investing in Nikki T's, Inc. You have only the following information on...
You are thinking of investing in Nikki T's, Inc. You have only the following information on the firm at year-end 2018: net income is $180,000, total debt is $2.80 million, and debt ratio is 60 percent. What is Nikki T's ROE for 2018? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Homework Answers
debt ratio=debt/total assets
total assets=(2.8/0.6) million
=$4.67 million
total assets=debt+equity
equity=(4.67-2.8)=$1.87 million(Approx)
=$1866666.67
ROE=net income/equity
=180,000/1866666.67
=9.64%(Approx).
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