PP Products has total assets of $646,819, a total asset turnover rate of 2.97, a debt-equity...
PP Products has total assets of $646,819, a total asset turnover rate of 2.97, a debt-equity ratio of 1.61, and a return on equity of 0.28 percent. What is the firm's net income
Homework Answers
Debt + equity = Total Assets
Equity = Assets * Equity / [ Equity + Debt ]
= 646819 * 1 / [ 1 + 1.61 ]
= 646819 / 2.61
= 247823
return on equity = Net Income / Equity
0.28 = Net Income / 247823
Net Income = 247823 * 0.28
= 69390.54
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PP Products has total assets of $646,819, a total asset turnover
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