Question
Please give a detail response on how to solve this problem. Much appreciated. The following information is from Acme's annual report for the years ended
Please give a detail response on how to solve this problem. Much appreciated.
The following information is from Acme's annual report for the years ended Dec. 31: Year: /// 2012 /// 2011 /// 2010 Cash 2,500 2,000 1,000 Accounts receivable 5,000 3,000 2,000 Inventory 9,000 5,000 3,000 Property, plant & equipment 30,000 16,000 10,000 Accounts payable 6,000 4,500 3,500 Long-term liabilities 10,000 3,000 2,000 Common stock 2,000 2,000 2,000 Retained earnings 28,500 16,500 8,500 Refer to the Acme annual report above. Calculate return on equity for 2011. A) 55.2% B) 43.2% C) 32.7% D) The answer cannot be determined from the information given.?
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