Question
The following information is for the year 2018 for Miller Company and Grand Company, which are in the same industry: Miller Grand Current assets (ending)
The following information is for the year 2018 for Miller Company and Grand Company, which are in the same industry:
Miller | Grand | ||||
Current assets (ending) | $40,800 | $150,000 | |||
Long-term assets (ending) | $80,000 | $280,000 | |||
Current liabilities (ending) | $17,000 | $120,000 | |||
Long-term liabilities (ending) | $40,000 | $260,000 | |||
Current assets (beginning) | $50,000 | $170,000 | |||
Long-term assets (beginning) | $75,000 | $320,000 | |||
Current liabilities (beginning) | $20,000 | $180,000 | |||
Long-term liabilities (beginning) | $40,000 | $300,000 | |||
Net sales | $300,000 | $1,700,000 | |||
Net income | $6,000 | $18,700 | |||
Market price per share | $17 | $51 | |||
Number of shares outstanding (ending) | 12,000 | shares | 6,000 | shares | |
Number of shares outstanding (weighted-average) | 15,000 | shares | 5,500 | shares |
How do I find the return on equity in % (?)
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
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