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Carla Vista Tandy Company reported the following post-closing balances at December 31, 2021: cormmon stock $520,000; paid-in capital in excess of par-common stock $220,000; retained
Carla Vista Tandy Company reported the following post-closing balances at December 31, 2021: cormmon stock $520,000; paid-in capital in excess of par-common stock $220,000; retained earnings $370,000. During 2022, the following transactions affected stockholder's equity. 1. Issued preferred stock with a par value of $220,000 for $250,000. 2. Purchased treasury stock (common) for $90,000. 3. Earned net income of $284,332. 4. Declared and paid cash dividends of $106,000($36,000 preferred). Compute Tandy's 2022 return on common stockholders' equity. (Round answer to 1 decimal place, eg. 2.7.) Return on common stockholders' equity %
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