Cally Corporation has Net Sales of $200,000, Net Income of $40,000, Beginning Shareholders' Equity of $140,000 and Ending Shareholders' Equity of $150,000. Cally Corporation's return on equity is: 1. 10% 2. 138% 3. 133%

Cally Corporation has Net Sales of $200,000, Net Income of $40,000, Beginning Shareholders' Equity of $140,000 and Ending Shareholders' Equity of $150,000. Cally Corporation's return on equity is: 1. 10% 2. 138% 3. 133%

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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Question

(Multiple Choice)

Cally Corporation has Net Sales of $200,000, Net Income of $40,000, Beginning Shareholders' Equity of $140,000 and Ending Shareholders' Equity of $150,000. Cally Corporation's return on equity is:

1. 10%

2. 138%

3. 133%

4. 27.6%

5. None of the answers are correct

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