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Kojak Corporation decided to issue common stock and used the $300,000 proceeds to redeem all of its outstanding bonds on January 1, 2022. The following information is available for the company for 2022 and 2021. Net income Dividends declared for preferred stockholders Average common stockholders' equity Total assets Current liabilities Total liabilities 2022 $ 182,000 8,000 2021 100,000 200,000 $ 150,000 8,000 1,000,000 1,200,000 1,200,000 700,000 100,000 500,000

Kojak Corporation decided to issue common stock and used the $300,000 proceeds to redeem all of its outstanding bonds on January 1, 2022. The following information is available for the company for 2022 and 2021. Net income Dividends declared for preferred stockholders Average common stockholders' equity Total assets Current liabilities Total liabilities 2022 $ 182,000 8,000 2021 100,000 200,000 $ 150,000 8,000 1,000,000 1,200,000 1,200,000 700,000 100,000 500,000

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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Kojak Corporation decided to issue common stock and used the $300,000 proceeds to redeem all of its outstanding bonds on January 1, 2022. The following information is available for the company for 2022 and 2021. Net income Dividends declared for preferred stockholders Average common stockholders' equity Total assets Current liabilities Total liabilities (a) Return on common stockholders' equity ratio (c1) 2022 2022 Debt to assets ratio $ 182,000 8,000 1,000,000. 1,200,000 100,000 200,000 2021 $ 150,000 8,000 700,000 Compute the return on common stockholders' equity for both years. (Round answers to 1 decimal place, e.g. 12.5%.) 1,200,000 100,000 500,000 enter return on common stockholders equity in percentages % Compute the debt to assets ratio for both years. (Round answers to 1 decimal place, e.g. 12.5%.) 2021 2022 2021 enter debt to assets ratio in percentages % enter return on common stockho enter debt to assets ratio in percentages %
Transcribed Image Text:Kojak Corporation decided to issue common stock and used the $300,000 proceeds to redeem all of its outstanding bonds on January 1, 2022. The following information is available for the company for 2022 and 2021. Net income Dividends declared for preferred stockholders Average common stockholders' equity Total assets Current liabilities Total liabilities (a) Return on common stockholders' equity ratio (c1) 2022 2022 Debt to assets ratio $ 182,000 8,000 1,000,000. 1,200,000 100,000 200,000 2021 $ 150,000 8,000 700,000 Compute the return on common stockholders' equity for both years. (Round answers to 1 decimal place, e.g. 12.5%.) 1,200,000 100,000 500,000 enter return on common stockholders equity in percentages % Compute the debt to assets ratio for both years. (Round answers to 1 decimal place, e.g. 12.5%.) 2021 2022 2021 enter debt to assets ratio in percentages % enter return on common stockho enter debt to assets ratio in percentages %
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