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The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Year 2 Total current
The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Year 2 Total current assets $609,900 Year 1 $560,600 Total investments 61,500 44,600 Total property, plant, and equipment 888,000 643,600 Total current liabilities 107,000 82,600 Total long-term liabilities 317,600 226,900 Preferred 9% stock, $100 part Common stock, $10 par Paid-in capital in excess of par-common stock Retained earnings 84,200 84,200 502,400 502,400 69,900 478,300 69,900 282,800 Using the balance sheets for Kellman Company, if net income is $108,200 and interest expense is $36,600 for Year 2, what is the return on stockholders' equity for Year 2 (round percent to two decimal points)? Select the correct answer. 10.43% 12.65% O11.36% 10.30%
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