Ebersoll Mining has $6 million in sales, its ROE is 12%, and its total assets turnover is

Question:

Ebersoll Mining has $6 million in sales, its ROE is 12%, and its total assets turnover is 3.2×. Common equity on the firm's balance sheet is 50% of its total assets. What is its net income?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...