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The income statement for Stretch-Tape Corporation reports revenue of $453,600 and net income of $56,280. Average total assets for the year are 5840,000. Stockholders' equity
The income statement for Stretch-Tape Corporation reports revenue of $453,600 and net income of $56,280. Average total assets for the year are 5840,000. Stockholders' equity at the beginning of the year was $540,000, and $24,000 was paid to stockholders as dividends during the year. There were no other stockholders' equity transactions that occurred during the year. Calculate the return on assets, profit margin, asset turnover, and return on equity ratios
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