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Income statement: Sales Cost of goods sold Net income 20x2 $2,500,000 1,300,000 200,000 Balance sheets: Accounts receivable Total assets Total shareholders' equity 20x2 20x1 $

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Income statement: Sales Cost of goods sold Net income 20x2 $2,500,000 1,300,000 200,000 Balance sheets: Accounts receivable Total assets Total shareholders' equity 20x2 20x1 $ 300,000 $ 200,000 2,000,000 1,800,000 900,000 700,000 The return on shareholders' equity for 20X2 is: Multiple Choice 20% 8% Multiple Choice O 20% O 8% O 22.22% O 25%

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