Question
The following data relates to ABC Inc.outstanding. ABC Inc. only has common shares Total assets, December 31, year 1 124000 Total assets, December 31, year
The following data relates to ABC Inc.outstanding.
ABC Inc. only has common shares
Total assets, December 31, year 1 124000
Total assets, December 31, year 2 422000
Total liabilities, December 31, year 1 40000
Total liabilities, December 31, year 2 86000
Sales for year 2 1040000
Income for year 2 18000
Calculate the return on equity rate for year 2. Express your answer as a percentage and round your answer to two digits.
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
International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
