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Innovatech Ltd. has reported a net income of $3 million for the fiscal year ending December 31, 2023. The company had total assets of $20
- Innovatech Ltd. has reported a net income of $3 million for the fiscal year ending December 31, 2023. The company had total assets of $20 million and total liabilities of $12 million at the end of the year. During the year, Innovatech Ltd. issued additional shares, increasing the total equity by $1.5 million. Calculate the return on equity (ROE) for Innovatech Ltd. for the fiscal year 2023.
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Accounting Theory Conceptual Issues in a Political and Economic Environment
Authors: Harry Wolk, James Dodd, John Rozycki
8th edition
1412991692, 978-1412991698
