20Y7 20Y6 20YS Total assets $5,200,000 $5,00,000 $4,800,000 Notes payable (6% interest). Common stock.. Preferred 2.5% stock, $100 par 2,500,000 2,500,000 2,500,000 250,000 250,000 250,000 (no change during year) . Retained earnings.. 500,000 500,000 500,000 1,574,000 1,222,000 750,000
20Y7 20Y6 20YS Total assets $5,200,000 $5,00,000 $4,800,000 Notes payable (6% interest). Common stock.. Preferred 2.5% stock, $100 par 2,500,000 2,500,000 2,500,000 250,000 250,000 250,000 (no change during year) . Retained earnings.. 500,000 500,000 500,000 1,574,000 1,222,000 750,000
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 11MC: A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional...
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Profitability ratios
The following selected data were taken from the financial statements of
Vidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5:
The 20Y7 net income was $411,000, and the 20Y6 net income was
$462,500. No dividends on common stock were declared between 2045
and 2017. Preferred dividends were declared and paid in full in 2016 and
2017.
a. Determine the return on total assets, the return tin
equity
2016 and 2017. Round percentages to one decimal place.
b. What conclusions can be drawn from these data as to the company's
profitability?
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