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Bryan Computer has the following income statement and balance sheet. What is Bryan's return on equity? 6.57% 12.12% 20.12% 24.59% 29.37% begin{tabular}{|l|r|} hline Sales &
Bryan Computer has the following income statement and balance sheet.
What is Bryan's return on equity? 6.57% 12.12% 20.12% 24.59% 29.37%
\begin{tabular}{|l|r|} \hline Sales & 1,200,000 \\ \hline Cost of goods sold & 750,000 \\ \hline Selling, general \& admin expenses & 185,000 \\ \hline Depreciation & 56,000 \\ \hline Interest expense & 14,000 \\ \hline Taxes (30\%) & 58,500 \\ \hline Net income & 136,500 \\ \hline & \\ \hline Cash & 60,000 \\ \hline Receivables & 90,000 \\ \hline Inventory & 150,000 \\ \hline Net fixed assets & 480,000 \\ \hline Total Assets & 780,000 \\ \hline Accounts payable & 55,000 \\ \hline Other current liabilities & 40,000 \\ \hline Notes payable & 15,000 \\ \hline Long-term debt & 115,000 \\ \hline Total Equity & 555,000 \\ \hline Total Liabilities \& Equity & 780,000 \\ \hline \end{tabular}Step by Step Solution
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