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Crane Company had the following information in its financial statements for the years ended 2020 and 2021: Cash dividends for the year 2021 $4500 Net
Crane Company had the following information in its financial statements for the years ended 2020 and 2021:
Cash dividends for the year 2021 | $4500 |
Net income for the year ended 2021 | 96000 |
Market price of stock, 12/31/20 | 8 |
Market price of stock, 12/31/21 | 10 |
Common stockholders equity, 12/31/20 | 990000 |
Common stockholders equity, 12/31/21 | 1190000 |
Outstanding shares, 12/31/21 | 99000 |
Preferred dividends for the year ended 2021 | 14000 |
What is the rate of return on common stock equity for Crane Company for the year ended 2021?
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