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TechNova Inc. has reported a net income of $2.5 million for the fiscal year ending December 31, 2023. The company had total assets of $15
- TechNova Inc. has reported a net income of $2.5 million for the fiscal year ending December 31, 2023. The company had total assets of $15 million and total liabilities of $9 million at the end of the year. During the year, TechNova Inc. issued additional shares, increasing the total equity by $1 million. Calculate the return on equity (ROE) for TechNova Inc. for the fiscal year 2023.
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Fundamentals of Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
6th edition
0-07-786223-6, 101259095592, 13: 978-0-07-7, 13978125909559, 978-0077862237
