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Harmony Corporation reported these figures: (Click the icon to view the balance sheet) (Click the icon to view the income statement.) Harmony Corporation has 3,200,000

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Harmony Corporation reported these figures: (Click the icon to view the balance sheet) (Click the icon to view the income statement.) Harmony Corporation has 3,200,000 shares of common stock outstanding. Its stock has traded recently at $27.00 per share. You would better understanding of Harmony Corporation's financial position. Assume all sales are on credit. Read the requirement to the industry average to better determine if it is reasonable g. Return on stockholders' equity Enter the formula on the first line, then calculate the return on stockholders' equity on the next line. (Enter amounts in thousands as prov in the problem statement. Round the percentage to the nearest whole percent. For accounts with a zero balance enter $0 where approp - Preferred dividends Average common equity Net income 2400 = Rate of return on equity Income statement Sales revenue $ 14,235 4,350 Less: Cost of goods sold Gross profit 9,885 885 Less: Operating expenses Operating income $ 9,000 400 Less: Interest expense Income before income taxes 8,600 6.200 Less: Income tax expense 2.400 Net income Print Done Liabilities Total current liabilities 14,000 $ 4,960 13,000 5,400 Long-term liabilities Total liabilities $ 18,960 $ 18,400 Stockholders' equity Total common stockholders' equity 15,500 8,500 34,460 $ 26,900 Total liabilities and equity Print Done

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