Question
The balance sheet of Sub America reports total equity of $400,000 and $450,000 at the beginning and end of the year, respectively. The return on
The balance sheet of Sub America reports total equity of $400,000 and $450,000 at the beginning and end of the year, respectively. The return on equity for the year is 10%. What is Sub America's net income for the year?
$42,500.
$45,000.
$4,250,000.
$85,000.
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Quality Auditing A Tool For Excellence
Authors: David Mills, J. Mills
1st Edition
041245890X, 978-0412458903
