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If a business has a net income of $58,200 and total equity of $291,000, what is the ROE? a. 15% b. 18% c. 20% d. 25%

If a business has a net income of $58,200 and total equity of $291,000, what is the ROE? a. 15% b. 18% c. 20% d. 25%

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 4SEQ: If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity...
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Please provide the correct answer to this financial accounting problem using accurate calculations.

If a business has a net income of $58,200 and total equity of $291,000, what is the ROE? a. 15% b. 18% c. 20% d. 25%
Transcribed Image Text:If a business has a net income of $58,200 and total equity of $291,000, what is the ROE? a. 15% b. 18% c. 20% d. 25%
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