Condensed financial data are presented below for the Phoenix Corporation: 20X2 20X1 $ 267,500 312,500 670,000 50,000 825,000 252,500 77,500 1,640,000 982,500 10,000 77,500 127,500 71,000 (6,000) (62,500) Accounts receivable $230,000 257,500 565,000 Inventory Total current assets 60,000 695,000 200,000 75,000 Intangible assets Total assets Current liabilities Long-term liabilities Sales Cost of goods sold Interest expense Income tax expense Net income Cash flow from operations Cash flow from investing activities Cash flow from financing activities Tax rate 30% If there is no preferred stock, the return on common equity for 20X2 is (rounded):

Condensed financial data are presented below for the Phoenix Corporation: 20X2 20X1 $ 267,500 312,500 670,000 50,000 825,000 252,500 77,500 1,640,000 982,500 10,000 77,500 127,500 71,000 (6,000) (62,500) Accounts receivable $230,000 257,500 565,000 Inventory Total current assets 60,000 695,000 200,000 75,000 Intangible assets Total assets Current liabilities Long-term liabilities Sales Cost of goods sold Interest expense Income tax expense Net income Cash flow from operations Cash flow from investing activities Cash flow from financing activities Tax rate 30% If there is no preferred stock, the return on common equity for 20X2 is (rounded):

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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