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MARJORAM COMPANY Balance Sheet At December 31, 2021 Cash Notes receivable (due August 15, 2022) Accounts receivable (net) Merchandise inventory Property, plant, and equipment (net)
MARJORAM COMPANY Balance Sheet At December 31, 2021 Cash Notes receivable (due August 15, 2022) Accounts receivable (net) Merchandise inventory Property, plant, and equipment (net) Intangible assets Total assets Current liabilities Bonds payable (12%) (long-term) Common stock Retained earnings Total liabilities and equity $ 22, oee 35,000 49,600 72,400 280,000 13,600 $472,600 $105,000 130,000 76,000 161, 600 $472,660 MARJORAM COMPANY Income statement For the Year ended December 31, 2021 Sales $794, 000 Cost of goods sold 452, 400 Gross profit $341,600 Operating expenses 173, 400 Operating income $168, 200 Interest expense 15,600 Income before income tax $152,600 Income tax expense 45,780 Net income $106, 820 Required: Compute the return on shareholders' equity ratio for Marjoram Company. (Round your percentage answer to nearest whole percent.) Return on shareholders equity
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