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Problem 2 Selected financial information of Wanna Prosche 911 Corporation is as follows: Sales revenue and Cost of goods sold for the year ended December
Problem 2 Selected financial information of Wanna Prosche 911 Corporation is as follows: Sales revenue and Cost of goods sold for the year ended December 31, 2020 were $250,000 and $200,000, respectively. Sales revenue and Cost of goods sold for the year ended December 31, 2019 were $180,000 and $90,000, respectively. Net income was $50,000 and $25,000 for the years ended December 31, 2020 and 2019, respectively. The balance sheet at December 31, 2020 had assets of $250,000 and liabilities of $50,000 5. What was the return on stockholder's equity for 2020 using stockholder's equity at the beginning of the year? (2 pts) 6. Was the Return on Equity (ROE) or Return on Assets (ROA) higher for the year ended 2020? Why
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