Problem 3-10 Equity Multiplier and Return on Equity [LO 2]

Shelton Company has a debtequity ratio of 1.31. Return on assets is 7.56 percent, and total equity is $655,000. What is the equity multiplier? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Equity multiplier times What is the return on equity? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Return on equity % What is the net income? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Net income $