Sme company has a debt-equity ratio of .70. return on assets is 7.8 percent, and total equity is $530,000. a. what is the equity multiplier? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.) b. what is the return on equity? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.) c. what is the net income? (do not round intermediate calculations and round your answer to the nearest whole number, e. g., 32.)

(a)  1.70

(b) 13.26%

(c) $70,278.00  

Explanation:

Given that,

Debt-equity ratio = 0.70

Return on assets = 7.8%

Total equity = $530,000

Debt = 0.70 × Equity

        = 0.70 × $530,000

        = $371,000

Assets = Debt + Equity

           = $371,000 + $530,000

           = $901,000

(a)

                                         = 1.70

(b)  Return on Assets =  Assets × Return on assets percent

                                   =$901,000 × 7.8%

                                   = $70,278.00  

                                         = 13.26%

(c)  Net income = Return on Assets

                         = $70,278.00  

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