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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Profitability Ratios

Meade Publications is a magazine publisher established in Southern California. Financial analysts are concerned about Meade’s ability to generate positive returns as printed material becomes less popular than digital material. Financial analysts observe the following account balances from Meade to determine financial ratios:

Revenue $1,100,000

Expenses 700,000

Net income 350,000

Assets 625,000

Liabilities 175,000

Average equity 600,000

Required:

Compute Meade’s return on equity.

To determine

Introduction:

Return on equity measure the profit earned using capital provided by the shareholders of a firm or in other words we can say that ROI measures the effectiveness with which a company uses the assets to create profits.

To find:

The return on equity of Meade’s for the year 2019.

Explanation

Reurn on equity=Net incomeAverag

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