Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Net sales revenue, net income, and common stockholders' equity for Mirabel Mission Corporation, a manufacturer of contact lenses, follow for a four-year period. B (Click

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Net sales revenue, net income, and common stockholders' equity for Mirabel Mission Corporation, a manufacturer of contact lenses, follow for a four-year period. B (Click the icon to view the net sales revenue, net income, and common equity.) Read the requirements. Requirement 1. Compute trend analyses for each item for 20172019. Use 2016 as the base year, and round to the nearest whole percent. Begin by computing Mirabel Mission Corporation's trend analysis for net sales revenue, then compute Mirabel Mission Corporation's trend analysis for net income and finally compute Mirabel Mission Corporation's trend analysis for common stockholders' equity. 2019 2018 2017 2016 Net Sales Revenue $ 761,000 $ 704,000 $ 646,000 $ 665,000 Trend Percentages % % 100 % Net Income $ 62,000 $ 44,000 33,000 47,000 % % % 100 % Trend Percentages Ending Common Stockholders' Equity Trend Percentages $ 362,000 358,000 $ 336,000 $ 306,000 % % % 100 % Requirement 2. Compute the rate of return on common stockholders' equity for 20172019, rounding to three decimal places. Begin by selecting the formula to calculate Mirabel Mission Corporation's rate of return on common stockholders. Then, enter the amounts and calculate the rate of return on common stockholders' equity for 20172019. (Abbreviation used: Avg. common SE = average common stockholders' equity. Complete all answer boxes. Enter a "0" for balances with a zero value. Round your calculations to three decimal places and then enter your answers as a percentage to the nearest tenth percent, X.X%.) Rate of return on common stockholders' equity % 2017 ) - 2018 % 2019 ( % 2019 2018 2017 2016 Net Sales Revenue $ 761,000 $ 704,000 $ 646,000 $ 665,000 Net Income 62,000 44,000 33,000 47,000 Ending Common Stockholders' Equity 362,000 358,000 336,000 306,000 2019 2018 2017 2016 $ 761,000 $ 704,000 $ 646,000 $ 665,000 Net Sales Revenue Net Income Ending Common Stockholders' Equity 62,000 44,000 33,000 47,000 362,000 358,000 336,000 306,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

identify current issues relating to equal pay in organisations

Answered: 1 week ago