Question
A company has net income of $11.60 million. Stockholders' equity at the beginning of the year is $42.55 million and, at the end of the
A company has net income of $11.60 million. Stockholders' equity at the beginning of the year is $42.55 million and, at the end of the year, it is $58.15 million. The only change to stockholders' equity came from net income. The return on equity ratio is approximately:
5.01
0.20
0.27
0.23
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Auditing And Other Assurance Services
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser
10th Canadian Edition
0131296159, 978-0131296152
