Y3K, Inc., has sales of $4,300, total assets of $3,335, and a debt-equity ratio of 1.10....

Question

Question

Y3K, Inc., has sales of $4,300, total assets of $3,335, and a debt-equity ratio of 1.10. If its return on equity is 16 percent, what its net income?

Multiple Choice

business finance

Answer 1

Answer #1

Debt-equity ratio=debt/equity

Hence debt=1.1 equity

Total assets=debt+equity

3335=1.1equity+equity

equity=3335/2.1

=1588.095238

ROE=net income/equity

Net income =1588.095238*16%

=$254.10(Approx).

Answer 2

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