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hi I need help answering the following questions Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net)
hi I need help answering the following questions
Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Dec 31, 2020 $ 39,000 57, eee 27,eee 219, ese 432, e80 154,000 278.880 349, eee 229,000 29,000 Dec 31, 2021 $ 45, see 70,000 81,800 236,880 413, eee 154,000 259, eee 418,00 298, eee 32,720 Required: Compute the return on equity for 2021. (Round your answer to 1 decimal place, e.g., 0.1234 os 12.3%.) Return on equity 96 The December 31, 2021 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Debit Credit 108,080 188,080 278,000 588,888 Account Title Accounts payable Accounts receivable Accumulated depreciation-equipment Common stock Cash Cost of goods sold Depreciation expense Equipment Interest expense Inventory Note payable (due in six months) Rent expense Retained earnings Salaries payable Sales revenue Salaries expense Totals 44,000 498,000 78,000 736,800 8,000 168,000 78,000 48,888 84, eee 26,000 824,000 138,000 1,986,000 1,906,000 Required: Compute Kline's 12/31/2021 total shareholders equity: Shareholders' equity Step by Step Solution
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