Comparative balance sheets for Softech Canvas Goods for 2024 and 2023 are shown below. Softech pays no dividends and instead reinvests all earnings for future growth. Comparative Balance Sheets ($ in thousands) Assets: Cash Accounts receivable Short-term investments Inventory Property, plant, and equipment (net) Liabilities and Shareholders' Equity: Current liabilities Bonds payable Paid-in capital Retained earnings December 31 2024 2023 $ 50 $ 40 100 120 50 40 200 140 600 550 $ 1,000 $ 890 $ 240 $ 210 160 160 400 400 200 120 $ 1,000 $ 890 Required: 1. Determine the return on shareholders' equity for 2024. 2. What does the ratio measure? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the return on shareholders' equity for 2024. Note: Round your answer to 2 decimal places. Return on shareholders' equity %

Comparative balance sheets for Softech Canvas Goods for 2024 and 2023 are shown below. Softech pays no dividends and instead reinvests all earnings for future growth. Comparative Balance Sheets ($ in thousands) Assets: Cash Accounts receivable Short-term investments Inventory Property, plant, and equipment (net) Liabilities and Shareholders' Equity: Current liabilities Bonds payable Paid-in capital Retained earnings December 31 2024 2023 $ 50 $ 40 100 120 50 40 200 140 600 550 $ 1,000 $ 890 $ 240 $ 210 160 160 400 400 200 120 $ 1,000 $ 890 Required: 1. Determine the return on shareholders' equity for 2024. 2. What does the ratio measure? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the return on shareholders' equity for 2024. Note: Round your answer to 2 decimal places. Return on shareholders' equity %

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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