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MegaNet Systems has reported a net income of $3.4 million for the fiscal year ending December 31, 2023. The company had total assets of $19
- MegaNet Systems has reported a net income of $3.4 million for the fiscal year ending December 31, 2023. The company had total assets of $19 million and total liabilities of $11 million at the end of the year. During the year, MegaNet Systems issued additional shares, increasing the total equity by $1.4 million. Calculate the return on equity (ROE) for MegaNet Systems for the fiscal year 2023.
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Managerial Accounting An Introduction to Concepts Methods and Uses
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil
11th edition
1111571260, 978-1111571269
