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The balance sheets at the end of each of the first two years of operations indicate the following: Total current assets Total investments Kellman Company
The balance sheets at the end of each of the first two years of operations indicate the following: Total current assets Total investments Kellman Company Total property, plant, and equipment Total current liabilities Total long-term liabilities Preferred 9% stock, $100 par Common stock, $10 par Paid-in capital in excess of par-common stock Retained earnings Year 2 Year 1- $630,000 $594,800 60,900 51,700 944,900 668,600 115,100 82,900 305,600 249,700 88,200 88,200 598,400 598,400 65,300 463,200 65,300 230,600 Using the balance sheets for Kellman Company, if net income is $110,100 and interest expense is $39,600 for Year 2, what is the return on stockholders' equity for Year 2 (round percent to two decimal points)? Select the correct answer. 9.77% 10.02% 1231% 10.89%
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