Lion Inc., has sales of $3171, total assets of $1456, and a debt−equity ratio of 0.6....
Lion Inc., has sales of $3171, total assets of $1456, and a debt−equity ratio of 0.6. If its return on equity is 8%.
What is Lion’s Net Income? (Round final answer to 2 decimal places. Do not round intermediate calculations).
Homework Answers
Debt to equity ratio=debt/equity
Hence debt=0.6equity
Total assets=debt+equity
1456=0.6equity+equity
equity=1456/(0.6+1)
=$910
ROE=net income/equity
Hence net income =$910*8%
=$72.80
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