Jennifer’s Shoe Stores has $22,000,000 in yearly sales. The firm earns 13 percent on each dollar of sales and

Question

Jennifer’s Shoe Stores has $22,000,000 in yearly sales. The firm earns 13 percent on each dollar of sales and turns over its assets 2.5 times per year. It has $60,000 in current liabilities and $140,000 in long-term liabilities. Determine the Net Income. Round answer to the nearest dollar. Do not enter a $ or a comma. (example 45000)

Answer 1

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Answer 2

.13 * 22,000,000 = 2860000

Based on what you've given us, it's that easy.