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Academy Driving School reported the following amounts in its financial statements: Year 1 Year 2 Number of common shares 12,700 12,700 Net income $ 40,640
| Academy Driving School reported the following amounts in its financial statements: |
| Year 1 | Year 2 | ||||
| Number of common shares | 12,700 | 12,700 | |||
| Net income | $ | 40,640 | $ | 35,640 | |
| Cash dividends paid on common stock | $ | 2,800 | $ | 2,800 | |
| Total stockholders' equity | $ | 360,000 | $ | 340,000 |
| Calculate EPS and ROE for year 2.(Round EPS to 2 decimal places and ROE to 1 decimal place.) |
|
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Understanding Financial Accounting
Authors: Christopher D. Burnley
2nd Canadian Edition
1119406927, 978-1119406921
