Question
Q5. Selected financial data for Spelling Company appear below: Account Balances End of Beginning Year of Year Common stock $1,200,000 $900,000 Preferred stock 375,000 375,000
Q5. Selected financial data for Spelling Company appear below:
|
| Account Balances | |
|
| End of | Beginning |
|
| Year | of Year |
| Common stock | $1,200,000 | $900,000 |
| Preferred stock | 375,000 | 375,000 |
| Retained earnings | 555,000 | 225,000 |
|
|
|
|
During the year, the company paid dividends of $30,000 on its preferred stock. The company's net income for the year was $360,000. What is the company's return on common stockholders' equity for the year?
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CISA Certified Information Systems Auditor All In One Exam Guide
Authors: Peter H. Gregory
4th Edition
1260458806, 978-1260458800
