Tinker Corporation operates in the highly competitive consulting industry. Tinker's balance sheet indicates the following balances as
Question:
Cash ................................................................... $ 80,000
Accounts receivable .................................................... 87,000
Inventory ................................................................ 52,000
Property, plant, and equipment ..................................... 485,000
Accounts payable ....................................................... 73,000
Bonds payable (due in 2021) ....................................... 110,000
Common stock (12/31/2018) ....................................... 250,000
Common stock (12/31/2019) ....................................... 275,000
Retained earnings (12/31/2018) .................................... 180,000
Retained earnings (12/31/2019) .................................... 220,000
Required:
Calculate Tinker's return on equity if Tinker's 2019 net income is $90,000?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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