Selected information for Irvington Company follows: Required: What is Irvingtons return on common stockholders equity (ROCE) for
Question:
Selected information for Irvington Company follows:
Required:
What is Irvington’s return on common stockholders’ equity (ROCE) for 2008, rounded to the nearest percentage point?
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December 31 2007 2008 Preferred stock, 8%, per $100 $125,000 $125,000 Common stock 300,000 400,000 Retained earnings 75,000 185,000 Dividends paid on preferred stock 10,000 10,000 Net income 60,000 120,000
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