The financial statements of Heatwave Athletic Wear include the following selected data ($ in millions): Sales, $22,400; Net income, $775; Beginning stockholders' equity, $3,590; Ending stockholders' equity, $4,170. Calculate the return on equity. (Round your answer to 1 decimal place.) Return on equity
The financial statements of Heatwave Athletic Wear include the following selected data ($ in millions): Sales, $22,400; Net income, $775; Beginning stockholders' equity, $3,590; Ending stockholders' equity, $4,170. Calculate the return on equity. (Round your answer to 1 decimal place.) Return on equity
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 2P
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![The financial statements of Heatwave Athletic Wear include the following selected data ($ in millions): Sales, $22,400; Net income,
$775; Beginning stockholders' equity, $3,590; Ending stockholders' equity, $4,170.
Calculate the return on equity. (Round your answer to 1 decimal place.)
Return on equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8aeb4c9c-8d33-4b47-954d-a4d3ce02aa40%2F92b8e271-d38b-4a4c-8ca5-f7fc7d299305%2F1qd9mwb.png&w=3840&q=75)
Transcribed Image Text:The financial statements of Heatwave Athletic Wear include the following selected data ($ in millions): Sales, $22,400; Net income,
$775; Beginning stockholders' equity, $3,590; Ending stockholders' equity, $4,170.
Calculate the return on equity. (Round your answer to 1 decimal place.)
Return on equity
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