Question: Please show step by step solution 28. Ratios and Fixed Assets. The Smathers Company has a long-term debt ratio (i.e., the ratio of long-term debt

Please show step by step solution 28. Ratios and Fixed Assets.

Please show step by step solution

28. Ratios and Fixed Assets. The Smathers Company has a long-term debt ratio (i.e., the ratio of long-term debt to long-term debt plus equity) of .45 and a current ratio of 1.30. Current liabilities are $2,435, sales are $11,610, profit margin is 9 percent, and ROE is 12.8 percent. What is the amount of the firm's net fixed assets

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