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need help! E14.13 (LO 2, 3), AP Financial Statement in 2022, Pennington Corporation had net sales of $600,000 and cost of goods sold of $360,000.
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E14.13 (LO 2, 3), AP Financial Statement in 2022, Pennington Corporation had net sales of $600,000 and cost of goods sold of $360,000. Operating expenses were $153,000, and interest expense was $7.500. The corporation's tax rate is 20%. The corporation declared preferred dividends of $15,000 in 2022, and its average common stockholders' equity during the year was $200,000. Instructions a. Prepare an income statement for Pennington Corporation. b. Compute Pennington Corporation's return on common stockholders' equity for 2022. Compute EPS Step by Step Solution
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