Fillips Company had net income of $36,700 in a year when its stockholders equity averaged $450,000 and

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Fillips Company had net income of $36,700 in a year when its stockholders’ equity averaged
$450,000 and its total assets averaged $2,500,000. Calculate the company’s return on equity for the period.

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Financial And Managerial Accounting

ISBN: 12

14th International Edition

Authors: Jan R. Williams, Joseph V. Carcello, Mark S. Bettner, Sue Haka, Susan F. Haka

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Question Posted: Apr 21, 2014 03:38 AM

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Fillips Company had net income of $36,700 in a year when its stockholders equity averaged $450,000 and

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Financial And Managerial Accounting

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