Question
The Mikado Company has a long-term debt ratio (i.e., the ratio of long-term debt to long-term debt plus equity) of .49 and a current
The Mikado Company has a long-term debt ratio (i.e., the ratio of long-term debt to long-term debt plus equity) of .49 and a current ratio of 1.38. Current liabilities are $2,450, sales are $10,630, profit margin is 10 percent, and ROE is 15 percent. What is the amount of the firm's current assets? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
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Essentials Of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
11th Edition
1265414963, 978-1265414962
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