Canine Supply has sales of $2,200,total assets of $1,400,and a debt-equity ratio of 0.5.Its return on equity is 15 percent.What is the net income?
A)$128.16
B)$131.41
C)$132.09
D)$136.67
E)$140.00

Name: Canine Supply has sales of $2,200,total assets of $1,400,and a debt-equity ratio of 0.5.Its return on equity is 15 percent.What is the net income? A)$128.16 B)$131.41 C)$132.09 D)$136.67 E)$140.00
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Question

Quizplus · Accepted Answer

Return on equity = .15 = (Net income/$2,200) × ($2,200/$1,400) × (1 + 0.50)Net income = $140.00

Canine Supply Has Sales of $2,200,total Assets of $1,400,and a Debt-Equity