Question
California Clothing reports net income and sales for the year of $65,000 and $1,300,000, respectively. Return on equity is 10%. What is California Clothing's average
California Clothing reports net income and sales for the year of $65,000 and $1,300,000, respectively. Return on equity is 10%. What is California Clothing's average Stockholders' Equity for the year?
| $650,000 | ||
| $13,000,000 | ||
| $682,500 | ||
| 5% |
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Auditing A Risk Based Approach
Authors: Karla M Johnstone-Zehms, Audrey A. Gramling, Larry E. Rittenberg
12th Edition
035772187X, 978-0357721872
