A company has net income of $34.10 million. Stockholders' equity at the beginning of the year is $80.05 million and, at the end of the year, it is $133.15 million. The only change to stockholders' equity came from net income. The return on equity ratio is approximately: Multiple Choice 3.90. 0.26. 0.32. 0.43.
A company has net income of $34.10 million. Stockholders' equity at the beginning of the year is $80.05 million and, at the end of the year, it is $133.15 million. The only change to stockholders' equity came from net income. The return on equity ratio is approximately: Multiple Choice 3.90. 0.26. 0.32. 0.43.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 79E: Ratio Analysis MJO Inc. has the following stockholders equity section of the balance sheet: On the...
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