Question
A company has net income of $14,600,000. Stockholders' equity was $47,550,000 at the beginning of the year and $68,150,000 at the end of the year.
A company has net income of $14,600,000. Stockholders' equity was $47,550,000 at the beginning of the year and $68,150,000 at the end of the year. The company does not have any preferred stock outstanding. What is the companys return on equity (ROE) during the year? (Round your answer to 2 decimal places. Do not convert it to a percentage.)
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Auditing A Risk Based Approach
Authors: Karla M Johnstone-Zehms, Audrey A. Gramling, Larry E. Rittenberg
12th Edition
035772187X, 978-0357721872
