Fulmer Company's net income in 2008 was $220,000. The company paid preferred dividends of $42,000 and its average common stockholders' equity was $685,000. The company's return on common stockholders' equity for the year was closest to: A. 32.1% B. 26% C. 38.2% D. 6.1%

Fulmer Company's net income in 2008 was $220,000. The company paid preferred dividends of $42,000 and its average common stockholders' equity was $685,000. The company's return on common stockholders' equity for the year was closest to: A. 32.1% B. 26% C. 38.2% D. 6.1%

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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General Accounting Solution of this Q

Fulmer Company's net income in 2008 was $220,000.
The company paid preferred dividends of $42,000 and
its average common stockholders' equity was
$685,000. The company's return on common
stockholders' equity for the year was closest to:
A. 32.1%
B. 26%
C. 38.2%
D. 6.1%

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