On January 1, 2020, Concord Corporation purchased 1,100 shares of treasury stock. Other information regarding Concord Corporation is provided as follows. 2019 2020 Net income $205,000 $210,000 Dividends on preferred stock $27,000 $27,000 Dividends on common stock $21,000 $25,000 Common stockholders’ equity beginning of year $595,000 $796,000 Common stockholders’ equity end of year $796,000 $867,000 Compute return on common stockholders’ equity for each year. (Round answer to 1 decimal place, e.g. 10.5.) 2019 2020 Return on common stockholders’ equity %
On January 1, 2020, Concord Corporation purchased 1,100 shares of treasury stock. Other information regarding Concord Corporation is provided as follows. 2019 2020 Net income $205,000 $210,000 Dividends on preferred stock $27,000 $27,000 Dividends on common stock $21,000 $25,000 Common stockholders’ equity beginning of year $595,000 $796,000 Common stockholders’ equity end of year $796,000 $867,000 Compute return on common stockholders’ equity for each year. (Round answer to 1 decimal place, e.g. 10.5.) 2019 2020 Return on common stockholders’ equity %
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 67E: Cash Dividends on Common and Preferred Stock Lemon Inc. has the following information regarding its...
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On January 1, 2020, Concord Corporation purchased 1,100 shares of
2019
|
2020
|
|||
Net income | $205,000 | $210,000 | ||
Dividends on |
$27,000 | $27,000 | ||
Dividends on common stock | $21,000 | $25,000 | ||
Common |
$595,000 | $796,000 | ||
Common stockholders’ equity end of year | $796,000 | $867,000 |
Compute return on common stockholders’ equity for each year. (Round answer to 1 decimal place, e.g. 10.5.)
2019
|
2020
|
||||
Return on common stockholders’ equity |
|
% |
|
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