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Selected data for the MK Company follow: Current Year Prior Year Preferred shares, 8%, par value $50 $250,000 $250,000 Common shares, par value $10 $500,000
Selected data for the MK Company follow: Current Year Prior Year Preferred shares, 8%, par value $50 $250,000 $250,000 Common shares, par value $10 $500,000 $500,000 Retained earnings at end of year $257,000 $240,000 Net income $102,000 $90,000 Dividends paid on preferred shares $20,000 $20,000 Dividends paid on common shares $65,000 $60,000 Quoted market price per common $25.00 $20.00 share at year end MK Company's return on common shareholders' equity for the current year was closest to: Multiple Choice 8.2%. 10.2%. 10.9%. 13.6%
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