Mini-Exercise 3-3 (Static) Calculate ROE LO 3-4\ Firm

L

had net assets at the end of the year of

$660,000

. The only items affecting stockholders' equity during the income of

$162,000

and dividends of

$42,000

.\ Required:\ Calculate Firm L's average stockholders' equity and return on equity (ROE).

Mini-Exercise 3-3 (Static) Calculate ROE LO 3-4 Firm L had net assets at the end of the year of $660,000. The only items affecting stockholders' equity during th income of $162,000 and dividends of $42,000. Required: Calculate Firm L's average stockholders' equity and return on equity (ROE)