Problem:
A firm has net income of $114,000, a return on assets of 12.6 percent, and a debt-equity ratio of 0.60.
Required:
Question: What is the return on equity?
a.) 17.11 percent
b.) 24.60 percent
c.) 18.98 percent
d.) 22.20 percent
e.) 20.16 percent
Note: Please provide through step by step calculations.