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Compute for Return on Equity for Year 3: The Derkins Corporation had the following information available: Year 3 Year 2 Year 1 Income Statement Revenue Cost of goods sold Selling & admin. expenses Interest expense Net Income 30,848 23,122 6,082 27,433 20,938 5,053 458 25,512 19,875 4,672 504 1,140 984 615 Balance Sheet Assets Cash Accounts receivable Inventory Property and equip. (net) Total Assets 681 354 587 412 909 3,200 3,281 7,668 2,627 2,810 6,378 2,245 2,514 Liabilities Accounts payable Unredeemed gift cards 373 358 410 280 385 Long-term liabilities 3,234 2,824 2,643 Stockholders' Equity Common stock Retained earnings Total Liabilities and Equity 985 985 985 2,607 7,668 1,801 6,378 1,467 5,760 Note: Use two Decimal Points and use Percent (%) if Necessary

Compute for Return on Equity for Year 3: The Derkins Corporation had the following information available: Year 3 Year 2 Year 1 Income Statement Revenue Cost of goods sold Selling & admin. expenses Interest expense Net Income 30,848 23,122 6,082 27,433 20,938 5,053 458 25,512 19,875 4,672 504 1,140 984 615 Balance Sheet Assets Cash Accounts receivable Inventory Property and equip. (net) Total Assets 681 354 587 412 909 3,200 3,281 7,668 2,627 2,810 6,378 2,245 2,514 Liabilities Accounts payable Unredeemed gift cards 373 358 410 280 385 Long-term liabilities 3,234 2,824 2,643 Stockholders' Equity Common stock Retained earnings Total Liabilities and Equity 985 985 985 2,607 7,668 1,801 6,378 1,467 5,760 Note: Use two Decimal Points and use Percent (%) if Necessary

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 18E
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Compute for Return on Equity for Year 3: The Derkins Corporation had the following information available: Year 3 Year 2 Year 1 Income Statement Revenue Cost of goods sold Selling & admin. expenses Interest expense Net Income 30,848 23,122 6,082 27,433 20,938 5,053 458 25,512 19,875 4,672 504 1,140 984 615 Balance Sheet Assets Cash Accounts receivable Inventory Property and equip. (net) Total Assets 681 354 587 412 909 3,200 3,281 7,668 2,627 2,810 6,378 2,245 2,514 Liabilities Accounts payable Unredeemed gift cards 373 358 410 280 385 Long-term liabilities 3,234 2,824 2,643 Stockholders' Equity Common stock Retained earnings Total Liabilities and Equity 985 985 985 2,607 7,668 1,801 6,378 1,467 5,760 Note: Use two Decimal Points and use Percent (%) if Necessary
Transcribed Image Text:Compute for Return on Equity for Year 3: The Derkins Corporation had the following information available: Year 3 Year 2 Year 1 Income Statement Revenue Cost of goods sold Selling & admin. expenses Interest expense Net Income 30,848 23,122 6,082 27,433 20,938 5,053 458 25,512 19,875 4,672 504 1,140 984 615 Balance Sheet Assets Cash Accounts receivable Inventory Property and equip. (net) Total Assets 681 354 587 412 909 3,200 3,281 7,668 2,627 2,810 6,378 2,245 2,514 Liabilities Accounts payable Unredeemed gift cards 373 358 410 280 385 Long-term liabilities 3,234 2,824 2,643 Stockholders' Equity Common stock Retained earnings Total Liabilities and Equity 985 985 985 2,607 7,668 1,801 6,378 1,467 5,760 Note: Use two Decimal Points and use Percent (%) if Necessary
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