A firm has a debt-equity ratio of 57 percent, a total asset turnover of 1.12, and a profit margin of 4.9 percent. The total equity is $511,640. What is the amount of the net income?
a. $28,079
b. $35,143
c. $44,084
d. $47,601
e. $52,601
Answer: C
A firm has a debt-equity ratio of 57 percent, a total asset turnover of 1.12, and a profit margin of 4.9 percent. The total equity is $511,640. What is the amount of the net income?
a. $28,079
b. $35,143
c. $44,084
d. $47,601
e. $52,601
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