Question
The condensed balance sheet and income statement for Microsoft are presented below. MARJORAM COMPANY Balance Sheet December 31, 2024 Cash 20,000 Notes receivable (due
The condensed balance sheet and income statement for Microsoft are presented below. MARJORAM COMPANY Balance Sheet December 31, 2024 Cash 20,000 Notes receivable (due August 15, 2025) Accounts receivable (net) 31,000 48,800 Inventory 71,200 Property, plant, and equipment (net) 260,000 12,800 Intangible assets Total assets Current liabilities Bonds payable (11%) (long-term) Common stock Retained earnings Total liabilities and equity MARJORAM COMPANY $ 443,800 $ 104,200 110,000 72,000 157,600 $ 443,800 Sales Income Statement For the Year ended December 31, 2024 Cost of goods sold Gross profit Operating expenses Operating income $ 734,000 432,400 $ 301,600 168,600 $ 133,000 12,100 $ 120,900 36,270 $ 84,630 Interest expense Income before income tax Income tax expense Net income Required: Compute the return on shareholders' equity ratio for Microsoft. Note: Round your percentage answer to nearest whole percent. Return on shareholders' equity %
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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