You are thinking of investing in Nikki T's, Inc. You have only the following information on the firm at year-end 2021: net income is $310,000, total debt is $2.50 million, and debt ratio is 55 percent. What is Nikki T's ROE for 2021? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

You are thinking of investing in Nikki T's, Inc. You have only the following information on the firm at year-end 2021: net income is $310,000, total debt is $2.50 million, and debt ratio is 55 percent. What is Nikki T's ROE for 2021? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 2MCQ

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