CPA Question 09 Selected information for Irvington Company is as follows: December 31 Year 1 Year 2 Preferred stock, 8%, par $100, nonconvertible, noncumulative Common stock Retained earnings Dividends paid on preferred stock for year ended Net income for year ended $125,000 300,000 75,000 10,000 60,000 $125,000 400,000 185,000 10,000 120,000 Irvington's return on common stockholders' equity, rounded to the nearest percentage point, for year 2 is 17% 25% 23% 19%