Question
Cellar Wines has a debt-equity ratio of 0.62, sales of $592,500, net income of $93,700, and total debt of $320,000. What is the return on
Cellar Wines has a debt-equity ratio of 0.62, sales of $592,500, net income of $93,700, and total debt of $320,000. What is the return on equity?
A. 20 percent
B. 26 percent
C. 18 percent
D. 23 percent
E. 30 percent
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
8th Edition
007322359X, 9780073223599
