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A firm has a return on equity of 23 percent. The total asset turnover is 2.2 and the profit margin is 6 percent. The total eq
$585
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Answer #1

Ans. Option 4th. $1,288

Return on equity = Net income / Total equity

23% = Net income / $5,600

Net income = $5,600 * 23%

Net income = $1,288

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