Question: For a company, a 2 0 % increase in Sales leads to a 2 0 % increase in its Assets,which were $ 1 0 0

For a company, a 20% increase in Sales leads to a 20% increase in its Assets,which were $100,000 last year. The company expects to make a Net Income of$21,000 in the next year. If the Equity was previously $70,000, how much Debtdid the company retire? 

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