A B D E Ch3-2: A firm has a debt-to-total assets ratio of 60%, $300,000 in debt, and a net income of $50,000. Calculate return on equity. Hint: this will be derived from the formulas: debt-to-total-assets = total debt/total assets; return on assets = net income/total assets; and return on equity = return on assets/(1-debt/assets) (you must determine total assets, in order to determine return on assets, in order to determine return on equity). Show all work (display all the variables used in your formulas, and/or detail all steps used in determining the calculation)! 3 9 10