Assume that Pembrook Industries, Inc., has the following data: Net income for 2018 ......................................................................................$ 104,000 Total stockholders

Question:

Assume that Pembrook Industries, Inc., has the following data:

Net income for 2018 ......................................................................................$ 104,000
Total stockholder’s equity, 12/31/2018.........................................................$ 935,000
Total stockholder’s equity, 12/31/2017.........................................................$ 889,000


Requirements

1. Calculate Pembrook Industries’ return on equity for 2018.

2. Comment on Pembrook Industries’ performance during 2018, assuming that the industry average is between 8 and 10 percent.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial Accounting

ISBN: 978-0134727790

5th edition

Authors: Robert Kemp, Jeffrey Waybright

Question Posted: