SmartTech Inc. recorded the following financial data for the year: Sales Revenue: 600,000 Operating Expenses: 200,000 Global

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Question:

SmartTech Inc. recorded the following financial data for the year:

Sales Revenue: £600,000
Operating Expenses: £200,000

Global Tech Ltd's year-end report includes the following figures:

Item	Amount (£)
Fair Market Value of assets	500,000
Total Liabilities	200,000
Shareholder's Equity	150,000
Net Income	50,000

Requirements:

Determine the Return on Equity (ROE) for the year.
Draft an income statement for Global Tech Ltd for the year ended 31 December 2021.
Evaluate the fair market value of the company’s equity.

Related Book For answer-question

Financial Accounting and Reporting a Global Perspective

ISBN: 978-1408076866

4th edition

Authors: Michel Lebas, Herve Stolowy, Yuan Ding

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Posted Date: May 24, 2024 07:25 AM

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SmartTech Inc. recorded the following financial data for the year: Sales Revenue: 600,000 Operating Expenses: 200,000 Global

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Financial Accounting and Reporting a Global Perspective

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