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07. Kong Inc. reported net income of $270,000 during 2012 and paid dividends of $26,000 on common stock. It also has 10,000 shares of 6%
07. Kong Inc. reported net income of $270,000 during 2012 and paid dividends of $26,000 on common stock. It also has 10,000 shares of 6% $100 par value preferred stock outstanding. Common stockholders equity was $1,200,000 on January 1, 2012, and on December 31, 2012. The company's return on common stockholders equity for 2012 is a 17.4% d.-19.3%
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