Quick answer of this general accounting question Brightline Corporation reported the following balances at the end of its fiscal year:⚫ Total Assets: $500,000• Total Liabilities: $300,000Net Income for the year: $80,000Calculate the Return on Equity (ROE) for Brightline Corporation.a) 10%b) 16%c) 20%d) 40%

ROE = Net Income ÷ Shareholder EquityShareholder Equity = Total Assets - Total Liabilities= $500,000…

Answered: Brightline Corporation reported the…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

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Author:MOYER

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Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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Brightline Corporation reported the following balances at the end of its fiscal year: ⚫ Total Assets: $500,000 • Total Liabilities: $300,000 Net Income for the year: $80,000 Calculate the Return on Equity (ROE) for Brightline Corporation. a) 10% b) 16% c) 20% d) 40%