For the year 201B, ABC Company's return on common stockholders' equity was 12.5%. Its average stockholders' equity for the same period was P500,000, inclusive of P50,000 par value of preferred stock with a dividend rate of 8%. How much was the company's net income for 201B?
For the year 201B, ABC Company's return on common stockholders' equity was 12.5%. Its average stockholders' equity for the same period was P500,000, inclusive of P50,000 par value of preferred stock with a dividend rate of 8%. How much was the company's net income for 201B?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 79E: Ratio Analysis MJO Inc. has the following stockholders equity section of the balance sheet: On the...
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![0.OKB/s 1ll
4G+
2:41 PM ě
80
00:50:13 Remaining
Multiple Choice
For the year 201B, ABC Company's
return on common stockholders'
equity was 12.5%. Its average
stockholders' equity for the same
period was P500,000, inclusive of
P50,000 par value of preferred stock
with a dividend rate of 8%.
How much was the company's net
income for 201B?
O P60,250
P56,250
O P58,500
P62,500
4 of 20](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb2e39e61-dca9-41c1-9f54-094b5c9d6d45%2F1486f2c7-4c4f-4fbf-b972-cff0f5b81e21%2Fi0aq63_processed.jpeg&w=3840&q=75)
Transcribed Image Text:0.OKB/s 1ll
4G+
2:41 PM ě
80
00:50:13 Remaining
Multiple Choice
For the year 201B, ABC Company's
return on common stockholders'
equity was 12.5%. Its average
stockholders' equity for the same
period was P500,000, inclusive of
P50,000 par value of preferred stock
with a dividend rate of 8%.
How much was the company's net
income for 201B?
O P60,250
P56,250
O P58,500
P62,500
4 of 20
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