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Problem 4-8 DuPONT AND NET INCOME Precious Metal Mining has $9 million in sales, its ROE is 12%, and its total assets turnover is 3.2x.
Problem 4-8 DuPONT AND NET INCOME
Precious Metal Mining has $9 million in sales, its ROE is 12%, and its total assets turnover is 3.2x. Common equity on the firms balance sheet is 45% of its total assets. What is its net income? Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest cent. Do not round intermediate steps.
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