The XYZ Company has a debt-to-equity ratio of 0.5 and a total asset turnover ratio of 1.5. Its net income for the last fiscal year was $500,000, and the company's total assets were $2.5 million. The company wants to increase its net income by 10% for the next fiscal year. Assuming that the company's debt-to-equity ratio and total asset turnover ratio remain the same, what should the company's total assets be for the next fiscal year?

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Given data Debttoequity ratio 05 Total ... View the full answer