Question
Sortino Hotel has acquired the following financial data below: Balance Sheet Item 2012 2013 Total Assets $2,960,000 $3,230,000 Total Owner's Equity $1,760,000 $2,810,000 Net Income
Sortino Hotel has acquired the following financial data below:
Balance Sheet Item
2012
2013
Total Assets
$2,960,000
$3,230,000
Total Owner's Equity
$1,760,000
$2,810,000
Net Income
$1,500,000
$1,650,000
Based on the financial information given, calculate ROE for Sortino in 2013.
Group of answer choices
65.50%
72.21%
58.16%
77.90%
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
7th edition
978-0077632427, 77632427, 78025656, 978-0078025655
