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The following data was taken from the accounting records of Orca Co.: 2021 2020 Total assets $950,000 $850,000 Total liabilities 250,000 240,000 375,000 375,000 Common
The following data was taken from the accounting records of Orca Co.: 2021 2020 Total assets $950,000 $850,000 Total liabilities 250,000 240,000 375,000 375,000 Common shares Retained earnings Net income 325,000 235,000 160,000 200,000 The return on equity formula is: Net income Average shareholders' equity Required: Compute the return on equity for 2021. Select one: O a. 49.29
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