Homework Answers
assets = liability + shareholder equity
Thus, 46701 = liability + shareholder equity
liability = 46701 - shareholder equity
debt/equity ratio = 0.5
=> liability / shareholder equity = 0.5
Thus, (46701 - shareholder equity) / shareholder equity = 0.5
shareholder equity = 31134
Return of equity = 20%
Thus, net income = 31134*0.20
= 6226.8
Rounding off to $6227
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