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Profitability Ratios The following data came from the financial statements of Israel Company: Revenue $900,000 Expenses 623,000 Net income 277,000 Assets 600,000 Liabilities 100,000 Average
Profitability Ratios
The following data came from the financial statements of Israel Company:
| Revenue | $900,000 |
| Expenses | 623,000 |
| Net income | 277,000 |
| Assets | 600,000 |
| Liabilities | 100,000 |
| Average Equity | 500,000 |
Required:
Compute Israel's return on equity (in percentage terms, rounded to two decimal places)
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Financial Accounting
Authors: Karen Bird, Gene Imhoff
5th Edition
0984200568, 978-0984200566
