Question: Use the following information to answer this question Green Tree Corporation, Inc. 2019 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation

 Use the following information to answer this question Green Tree Corporation,
Inc. 2019 Income Statement ($ in millions) Net sales Cost of goods

Use the following information to answer this question Green Tree Corporation, Inc. 2019 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $10,050 7,700 395 $ 1,955 90 $ 1,865 653 $ 1,212 Cash Accounts rec. Inventory Total Net fixed assets GreenTree Corporation, Inc. 2018 and 2019 Balance Sheets ($ in millions) 2018 2019 $ 230 $ 260 Accounts payable 1,010 910 Long-term debt 1,850 1,670 Common stock $3,090 $2,840 Retained earnings 3,380 3,910 $6,470 $6,750 Total liab. & equity 2018 2019 $1,590 $1,617 1,020 1,303 3,260 2,980 600 850 Total assets $6,470 $6,750 What is the equity multiplier for 2019? Multiple Choice 262 times 1.76 times O 2.27 times 3.37 times 1.31 times

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!