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PROBLEM # 7 ( 5 Points ) Sally Forth Office Supply had $ 1 5 , 0 0 0 , 0 0 0 in sales

PROBLEM #7
(5 Points)
Sally Forth Office Supply had $15,000,000 in sales last year. The company's net income was $840,000. Its total assets equal $8,000,000. The company's ROE was 19.1 percent. The company is financed entirely with debt and common equity. What is the company's debt ratio?
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