The Mikado Company has a long-term debt ratio (i.e., the ratio of long-term debt to long-term debt plus equity) of .54 and a current ratio of 1.43. Current liabilities are $2,475, sales are $10,705, profit margin is 11 percent, and ROE is 16 percent. What is the amount of the firms net fixed assets?

Problem 3-28 Ratios and Fixed Assets [LO 2] The Mikado Company has a long-term debt ratio (i.e., the ratio of long-term debt to long-term debt plus equity) of .54 and a current ratio of 1.43. Current liabilities are $2,475, sales are $10,705, profit margin is 11 percent, and ROE is 16 percent. What is the amount of the firm's net fixed assets? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Net fixed assets