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madam [21]
2 years ago
11

Last year, Stumble-on-Inn, Inc. reported an ROE of 19 percent. The firm's debt ratio was 60 percent, sales were $34 million, and

the capital intensity was 1.30 times. Calculate the net income for Stumble-on-Inn last year. (Do not round intermediate calculations. Enter your answer in dollars not in millions.)
Business
1 answer:
Sonja [21]2 years ago
5 0

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>.

Learn more about Net Income at brainly.com/question/21271689

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Supply refers to a relationship between price received for each unit sold and the quantity supplied.

<h3>What is supply?</h3>

Supply refers to the relationship between the price of an item and the quantity supplied. The relationship between price and the quantity supplied is positive. This is in line with the law of supply.

The law of supply states that when prices increase, the quantity supplied increases and when price falls, the quantity supplied falls.

To learn more about the law of supply, please check: brainly.com/question/26374465

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<u>This shows that the inelastic nature of movie ticket demand.</u>

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