Janice Wong has extracted the following information from her income statement and balance sheet for 2021 and 2020: 2021 2020 Profit After Tax $687,511 $665,763 Cash at Bank $109,805 $102,213 Mortgage payable this year $21,488 $31,995 Inventory $39,432 $42,929 Accounts payable $128,057 $121,309 Accounts receivable (trade debtors) $444,563 $393,798 Mortgage payable in 5 years time $516,150 $633,164 Owner's Equity $1,479,443 $1,096,378 Based on the information provided, calculate the Return on Equity for 2021.
Janice Wong has extracted the following information from her income statement and balance sheet for 2021 and 2020: 2021 2020 Profit After Tax $687,511 $665,763 Cash at Bank $109,805 $102,213 Mortgage payable this year $21,488 $31,995 Inventory $39,432 $42,929 Accounts payable $128,057 $121,309 Accounts receivable (trade debtors) $444,563 $393,798 Mortgage payable in 5 years time $516,150 $633,164 Owner's Equity $1,479,443 $1,096,378 Based on the information provided, calculate the Return on Equity for 2021.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Janice Wong has extracted the following information from her income statement and
|
2021 |
2020 | |
| Profit After Tax | $687,511 | $665,763 |
| Cash at Bank | $109,805 | $102,213 |
| Mortgage payable this year | $21,488 | $31,995 |
| Inventory | $39,432 | $42,929 |
| Accounts payable | $128,057 | $121,309 |
| $444,563 | $393,798 | |
| Mortgage payable in 5 years time | $516,150 | $633,164 |
| Owner's Equity | $1,479,443 | $1,096,378 |
Based on the information provided, calculate the Return on Equity for 2021.
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