Question
Profitability Ratios: Tanaka Corporation's balance sheet indicates the following balances as of December 31, 2013. Cash $ 70,000 Accounts receivable 74,600 Inventory 55,000 Property, plant,
Profitability Ratios:
Tanaka Corporation's balance sheet indicates the following balances as of December 31, 2013.
| Cash | $ 70,000 |
| Accounts receivable | 74,600 |
| Inventory | 55,000 |
| Property, plant, and equipment | 500,000 |
| Accounts payable | 75,000 |
| Bonds payable (due in 2017) | 100,000 |
| Common stock (12/31/2012) | 275,000 |
| Common stock (12/31/2013) | 325,000 |
| Retained earnings (12/31/2012) | 200,000 |
| Retained earnings (12/31/2013) | 260,000 |
Required:
If Tanaka's 2013 net income is $74,600, determine its return on equity. Round your answer to two decimal places.
_______% ?
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Effective Auditing The Simple Systems Series Book 5
Authors: Jennie Clark CQP
1st Edition
B09YHJR18Y, 979-8802614082
