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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

Tinker Corporation operates in the highly competitive consulting industry. Tinker’s balance sheet indicates the following balances as of December 31, 2019.

Chapter 12, Problem 65BE, Profitability Ratios Tinker Corporation operates in the highly competitive consulting industry.

Required:

Calculate Tinker’s return on equity if Tinker’s 2019 net income is $90,000.

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 Tinker’s for the year 2019.

Explanation

Reurn on equity=Net incomeAverage equity×100

=$90,000$462,500×100

= 19

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