Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4) Apollo Corp. reported the following balance sheet: Cash $28,000 Accounts payable $5,000 Accounts receivable 15,000 Notes Payable 12,000 Inventory 45,000 Accruals 17,000 Net
4) Apollo Corp. reported the following balance sheet: Cash $28,000 Accounts payable $5,000 Accounts receivable 15,000 Notes Payable 12,000 Inventory 45,000 Accruals 17,000 Net Fixed Assets 112,000 Long-Terms Debt 45,000 Common Stock 10,000 Retained Earnings 111,000 Total assets $200,000 Total Liab. & Equity $200,000 Apollo has sales of $600,000 and net income of $50,000. Apollo's return on equity is A) 38.17%. B) 5.00%. C) 41.32%. D) 45.05%.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started