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Global Tech Ltd provided the following data for the year ended 31 December 2021: Fair Market Value of assets: 500,000 Total Liabilities: 200,000 Shareholder's Equity:
Global Tech Ltd provided the following data for the year ended 31 December 2021:
- Fair Market Value of assets: £500,000
- Total Liabilities: £200,000
- Shareholder's Equity: £150,000
- Net Income: £50,000
Requirements:
- Calculate the Return on Equity (ROE) for the year.
- Prepare a basic income statement for Global Tech Ltd for the year ended 31 December 2021.
- Assess the fair market value of the company’s equity using the provided data.
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd edition
9781305727557, 1285453824, 9781337116619, 130572755X, 978-1285453828
