Question
The 2019 balance sheet for Standard Electronics reported the following items -with 2018 figures given for comparison: Standard Electronics Balance Sheet As of December 31,
The 2019 balance sheet for Standard Electronics reported the following items -with 2018 figures given for comparison:
Standard Electronics Balance Sheet As of December 31, 2019 | Standard Electronics Balance Sheet As of December 31, 2018 | |
Total Assets | $571,000 | $494,000 |
Total Liabilities | $329,000 | $285,000 |
Total Stockholders' Equity (all common) | $242,000 | $209,000 |
Total Liabilities and Stockholders' Equity | $571,000 | $494,000 |
Net income for 2019 was $16,000. Compute the rate of return on common stockholders' equity for 2019. (Round your final answer to two decimal places.)
A.7.1%
B. 82.8%
C.33%
D.6.61%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started