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Hawkeye, one of the largest grocery retailers in the United States, is headquartered in Minneapolis. Suppose the following financial information (in millions) was taken from the company's 2022 annual report: net sales $41,490, net income $380, beginning common stockholders' equity $2,649, and ending common stockholders' equity $2,882. Compute the return on common stockholders' equity. (Round answer to 1 decimal place, e.g. 10.5%.)

Hawkeye, one of the largest grocery retailers in the United States, is headquartered in Minneapolis. Suppose the following financial information (in millions) was taken from the company's 2022 annual report: net sales $41,490, net income $380, beginning common stockholders' equity $2,649, and ending common stockholders' equity $2,882. Compute the return on common stockholders' equity. (Round answer to 1 decimal place, e.g. 10.5%.)

FINANCIAL ACCOUNTING
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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Having issue with Common Stockholder equity to the "Millions"  Please explain the rounding up so I understand the ask as well.  See attached image.

Hawkeye, one of the largest grocery retailers in the United States, is headquartered in Minneapolis. Suppose the following financial information (in millions) was taken from the company's 2022 annual report: net sales $41,490, net income $380, beginning common stockholders' equity $2,649, and ending common stockholders' equity $2,882. Compute the return on common stockholders' equity. (Round answer to 1 decimal place, e.g. 10.5%.) Return on common stockholder'equity %
Transcribed Image Text:Hawkeye, one of the largest grocery retailers in the United States, is headquartered in Minneapolis. Suppose the following financial information (in millions) was taken from the company's 2022 annual report: net sales $41,490, net income $380, beginning common stockholders' equity $2,649, and ending common stockholders' equity $2,882. Compute the return on common stockholders' equity. (Round answer to 1 decimal place, e.g. 10.5%.) Return on common stockholder'equity %
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