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A company has a net income of $31.10 million. Stockholders' equity at the beginning of the year is $75.05 million and, at the end of the year, it is $123.15 million. The only change to stockholders' equity came from net income. The return on equity ratio is approximately: A. 0.41 B. 0.31 C. 3.96 D. 0.25

A company has a net income of $31.10 million. Stockholders' equity at the beginning of the year is $75.05 million and, at the end of the year, it is $123.15 million. The only change to stockholders' equity came from net income. The return on equity ratio is approximately: A. 0.41 B. 0.31 C. 3.96 D. 0.25

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company has a net income of $31.10 million. Stockholders' equity at the beginning of the year is $75.05 million and, at the end of the year, it is $123.15 million. The only change to stockholders' equity came from net income. The return on equity ratio is approximately: A. 0.41 B. 0.31 C. 3.96 D. 0.25
Transcribed Image Text:A company has a net income of $31.10 million. Stockholders' equity at the beginning of the year is $75.05 million and, at the end of the year, it is $123.15 million. The only change to stockholders' equity came from net income. The return on equity ratio is approximately: A. 0.41 B. 0.31 C. 3.96 D. 0.25
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