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Furry Friends, LLC reported the following amounts in its comparative balance sheets: Dec. 31, Yr 2Dec. 31, Yr 1Current assets$ 21,000 $ 15,000Non-current assets 89,000
Furry Friends, LLC reported the following amounts in its comparative balance sheets:
Dec. 31, Yr 2Dec. 31, Yr 1Current assets$ 21,000 $ 15,000Non-current assets 89,000 87,000Total assets$110,000$102,000 Current liabilities$17,500$13,000Non-current liabilities15,50019,000Shareholders equity77,00070,000Total liabilities and equity$110,000$102,000The companys income statement reported sales revenue of $55,000 for Year 2 with net income totaling $15,000. If additional operating expenses of $7,000 had been used and paid during Year 2, how much would Furry Friends return on equity be?
9.85% 11.43% 17.92% 6.90%
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