Question
The following information pertains toConcordCompany. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.
The following information pertains toConcordCompany. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.
AssetsCash and short-term investments$47000Accounts receivable (net)27000Inventory23000Property, plant and equipment202000Total Assets$299000Liabilities and Stockholders' EquityCurrent liabilities$56000Long-term liabilities93000Stockholders' equity-common150000Total Liabilities and Stockholders' Equity$299000Income StatementSales revenue$110000Cost of goods sold63000Gross margin47000Operating expenses22100Net income$24900Number of shares of common stock5900Market price of common stock$25Dividends per share on common stock0.50Cash provided by operations$34000
What is the return on common stockholders' equity for this company?
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