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.
Required:
Question: What is the amount of the firm's net fixed assets?
Note: Please show how you came up with the solution.