Calculation of Financial statement ratios:

Selected year-end financial statements of Levi Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2016, were inventory, $49,900; total assets, $249,400; common stock, $90,000; and retained earnings, $40475.)

Levi Corp

Income Satement

Year ended Dec 31, 2017

Sales $456,600

Cost of goods sold $297,650

Gross Profit $158,950

Operating expenses $99,500

Interest Expense $4,900

Income before taxes $54,550

Income taxes $22,975

Net Income $32,575

Levi Corp

Balance Sheet

December 31, 2017

Assets

Cash $20,000

Short-term investments 8,400

Accounts receivable, net 32,600

Notes receivable (trade) * 5,000

Merchandise inventory 34,150

Prepaid expenses 2,500

Plants assets, net 152,300

Total assets $254,950

*these are short-term notes receivable arising from (trade) sales

Liabilities and equity

Accounts payable $16,500

Accrued wages payable 4,400

Income taxes payable 4,600

Long-term note payable, secured by mortgage on plant assets 66,400

Common stock 90,000

Retained earnings 73,050

Total liabilities and equity $254,950

I have computed 10 of my 11 ratios:

Current ratio, acid-test ratio, days sales uncollected, inventory turnover, days, sales in inventory, debt-to-Equity, times interest earned, profit margin ratio, total asset turnover and return on total assets. I have completed these 10. I am stuck on

Return on Common Stockholders Equity. I have tried a variety of pluses and minus, just straight up numbers.

I have my net income of

$32,575

Next is supposed to be (-) preferred dividends ( which I cant get this number, and I am sure its going to be very simple and I am going to kick myself) then divide this by Average common stockholders equity to equal my return on comm9n stockholdersequity.

Thanks.

Net income

- preferred dividends

/ average common stockholders equity

= return on Common stockholders equity