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A firm has sales of Tk. 750, total assets of Tk. 400, and a debt-equity ratio of 1.50. If the return on equity is 10%, what is the firm's net income?

A firm has sales of Tk. 750, total assets of Tk. 400, and a debt-equity ratio of 1.50. If the return on equity is 10%, what is the firm's net income? Correct Answer Tk 16

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The following ratios are also given:
Stock turnover: 5 times
Current ratio 2 : 1
Debtors collection period: 73 days
Outstanding expenses: 15% of creditors
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