The financial statements of Heatwave Athletic Wear include the following selected data ($ in millions): Sales, $22,400; Net income, $875; Beginning stockholders' equity, $3,600; Ending stockholders' equity, $4,160. Calculate the return on equity. (Round your answer to 1 decimal place.) Return on equity %

The financial statements of Heatwave Athletic Wear include the following selected data ($ in millions): Sales, $22,400; Net income, $875; Beginning stockholders' equity, $3,600; Ending stockholders' equity, $4,160. Calculate the return on equity. (Round your answer to 1 decimal place.) Return on equity %

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter17: Financial Statement Analysis

Section: Chapter Questions

Problem 17E

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