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Cloud Corporation's suite of software products and services provides secure and scalable solutions for global companies. The following is an extract from the company's 2020
Cloud Corporation's suite of software products and services provides secure and scalable solutions for global companies. The following is an extract from the company's 2020 and 2019 comparative income statements and statement of financial position. The market price of Cloud's common shares was $40 66 and $38.10 on June 30, 2020, and June 30, 2019. respectively. OCloud declared dividends per common share of $0.476 and 0.412 for 2020 and 2019, respectively OCLOUD CORPORATION Years Ended June 30, 2020, and 2019 in thousands) Comparative Income Statement 2020 Total revenues $2277.200 Total cost of revenues 758.858 Total operating expenses 1176122 Net income $1,012.927 Statement of Financial Position 2020 Total assets $7462098 Total liabilities 3,960,587 Common share capital 1,440/602 Total shareholders equity $3.501.511 Weighted average number of common shares outstanding 251.909 2019 $1,819,423 572.120 880473 5282.896 2019 $5,198,528 3,742.438 820288 51.456.090 244811 5 8 x Your answer is incorrect Calculate the return on shareholders equity for Cloud 2020. Note that oCloud's articles of incorporation au common shares. The average return for the shares isted on the Toronto Stock Exchange in a comparable period was 19. Round answer to 1 decimal place, es 15.2%) 20 Return on shareholders equity eTextbook and Media
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