Answered step by step
Verified Expert Solution
Question
1 Approved Answer
> Question 6 7 pts A firm has sales of $20,000, net income of $2,000, a debt-equity ratio of 70%, and total debt of $15,600.
> Question 6 7 pts A firm has sales of $20,000, net income of $2,000, a debt-equity ratio of 70%, and total debt of $15,600. What is the return on equity? 8.22% 7.89% 8.97% 9.61% 11.14% Question 7 7 pts A company has sales of $513,600, costs of goods sold of $279,700, inventory of $63,800, and accounts receivable of $48,200. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit? 92.46 days 67.01days 0 77.19 days 87.69 days 83.26 days
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started