Stumble-on-Inn, Inc.'s net income for last year is <u>$3,359,200</u>.
<h3>Data and Calculations:</h3>
ROE (Return on Equity) = 19%
Debt ratio =60%
Sales = $34 million
Capital intensity = 1.30 times
Assets = $44.2 million ($34 million x 1.30)
The Total Debt = $26,520,000 ($44,200,000 x 60%)
The Equity = $17,680,000 ($44,200,000 - $26,520,000)
The Net income = $3,359,200 ($17,680,000 x 19%)
Thus, Stumble-on-Inn, Inc.'s net income for last year is <u>$3,359,200</u>.
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