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Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues Expenses Net Income
Wichita, Incorporated reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues Expenses Net Income Current Assets Long-term Assets Total Assets Current Liabilities Long-term Liabilities $ 230,000 219,600 $ 65,000 195,000 $ 10,400 $ 260,000 $ 50,000 95,000 Total Liabilities 145,000 Common Stock $ 55,00 Retained Earnings 60,000 Total Equity Total Liabilities and Equity 115,000 $260,000 What is the company's return-on-equity ratio?
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