Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $225,000 Accounts Payable $80,000 Accounts Receivable $160,000 Notes Payable $90,000 Inventory $180,000 Long-term Debt $200,000 Property
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $225,000 | Accounts Payable | $80,000 |
Accounts Receivable | $160,000 | Notes Payable | $90,000 |
Inventory | $180,000 | Long-term Debt | $200,000 |
Property | $400,000 | Shareholders' Equity | $550,000 |
Calculate the return on equity (ROE) for the company based on the provided balance sheet and the net income of $120,000.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
