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Problem:

The Rand Corporation has a long-term debt ratio (i.e., the ratio of long-term debt to long-term debt plus equity) of 0.54 and a current ratio of 1.43. Current liabilities are $2,475, sales are $10,705, profit margin is 11 percent, and ROE is 16 percent.

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Question: What is the amount of the firm's net fixed assets?

Note: Please show how you came up with the solution.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91168747

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