Question
Wally Inc. had the following information in its financial statements for the years ended 2016 and 2017: Cash dividends for the year 2017 $ 15,000
Wally Inc. had the following information in its financial statements for the years ended 2016 and 2017: Cash dividends for the year 2017 $ 15,000 Net income for the year ended 2017 97,000 Market price of stock, 12/31/16 10 Market price of stock, 12/31/17 12 Common stockholders equity, 12/31/16 1,000,000 Common stockholders equity, 12/31/17 1,200,000 Outstanding shares, 12/31/17 100,000 Preferred dividends for the year ended 2018 15,000 What is the rate of return on common stock equity for Sealy Corporation for the year ended 2017?
NOT interested in just answer. Please show work and explanation. THANK YOU!
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