Question
A firm has total assets of $800,000 and total liabilities of $300,000. There are no preference shareholders. Earnings before interest and taxes are $100,000. Interest
A firm has total assets of $800,000 and total liabilities of $300,000. There are no preference shareholders. Earnings before interest and taxes are $100,000. Interest is $21,000 and taxes are $34,000. The return on ordinary shareholders' funds is:
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Financial & Managerial Accounting
Authors: Jan Williams, Sue Haka, Mark Bettner, Joseph Carcello
15th Edition
0073526991, 9780073526997
