Sheridan Corporation's suite of software products and services provides secure and scalable solutions for global companies. The following is an extract from the company's 2024 and 2023 comparative income statements and statement of financial position. The market price of Sheridan's common shares was $40.21 and $38.40 on June 30, 2024, and June 30, 2023, respectively. Sheridan declared dividends per common share of $0.473 and $0.412 for 2024 and 2023, respectively. SHERIDAN CORPORATION Years Ended June 30, 2024 and 2023 (in thousands) Comparative Income Statement Total revenues Total cost of goods sold 2024 2023 $2,292,471 $1,839,262 760,877 570,223 Total operating expenses Net income Statement of Financial Position Total assets 1,252,907 884,482 278,787 299,938 2024 2023 $7,435,933 $5,165,034 Total liabilities 3,940,763 3,795,325 Common share capital 1,449,399 809,798 Total shareholders' equity 3,495,170 1,369,709 Weighted average number of common shares outstanding 252,275 245,016 (a1) Your answer is incorrect. Calculate the return on shareholders' equity for Sheridan in 2024. Note that Sheridan's articles of incorporation authorize only common shares. The average return for the shares listed on the Toronto Stock Exchange in a comparable period was 19.8%. (Round answer to 1 decimal place, e.g. 15.2%.) Return on shareholder's equity %
Sheridan Corporation's suite of software products and services provides secure and scalable solutions for global companies. The following is an extract from the company's 2024 and 2023 comparative income statements and statement of financial position. The market price of Sheridan's common shares was $40.21 and $38.40 on June 30, 2024, and June 30, 2023, respectively. Sheridan declared dividends per common share of $0.473 and $0.412 for 2024 and 2023, respectively. SHERIDAN CORPORATION Years Ended June 30, 2024 and 2023 (in thousands) Comparative Income Statement Total revenues Total cost of goods sold 2024 2023 $2,292,471 $1,839,262 760,877 570,223 Total operating expenses Net income Statement of Financial Position Total assets 1,252,907 884,482 278,787 299,938 2024 2023 $7,435,933 $5,165,034 Total liabilities 3,940,763 3,795,325 Common share capital 1,449,399 809,798 Total shareholders' equity 3,495,170 1,369,709 Weighted average number of common shares outstanding 252,275 245,016 (a1) Your answer is incorrect. Calculate the return on shareholders' equity for Sheridan in 2024. Note that Sheridan's articles of incorporation authorize only common shares. The average return for the shares listed on the Toronto Stock Exchange in a comparable period was 19.8%. (Round answer to 1 decimal place, e.g. 15.2%.) Return on shareholder's equity %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Sheridan Corporation's suite of software products and services provides secure and scalable solutions for global companies. The
following is an extract from the company's 2024 and 2023 comparative income statements and statement of financial position. The
market price of Sheridan's common shares was $40.21 and $38.40 on June 30, 2024, and June 30, 2023, respectively. Sheridan
declared dividends per common share of $0.473 and $0.412 for 2024 and 2023, respectively.
SHERIDAN CORPORATION
Years Ended June 30, 2024 and 2023
(in thousands)
Comparative Income Statement
Total revenues
Total cost of goods sold
2024
2023
$2,292,471
$1,839,262
760,877
570,223
Total operating expenses
Net income
Statement of Financial Position
Total assets
1,252,907
884,482
278,787
299,938
2024
2023
$7,435,933 $5,165,034
Total liabilities
3,940,763
3,795,325
Common share capital
1,449,399
809,798
Total shareholders' equity
3,495,170
1,369,709
Weighted average number of common shares outstanding
252,275
245,016
(a1)
Your answer is incorrect.
Calculate the return on shareholders' equity for Sheridan in 2024. Note that Sheridan's articles of incorporation authorize only
common shares. The average return for the shares listed on the Toronto Stock Exchange in a comparable period was 19.8%.
(Round answer to 1 decimal place, e.g. 15.2%.)
Return on shareholder's equity
%
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