What is the return on equity? General accounting Art Supplies has a net income of $138,600.The firm has $1.25 million in assets and$500,000 in liabilities. What is the returnon equity?

Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) measures how efficiently a…

Answered: Art Supplies has a net income of…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 6P

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Art Supplies has a net income of $138,600. The firm has $1.25 million in assets and $500,000 in liabilities. What is the return on equity?