The following information (in $ millions) comes from the Annual Report of Saratoga Springs Company for the year ending 12/31/2024: Year ended 12/31/2024 $ 8,059 4,877 2,019 Net sales Cost of goods sold Selling and administrative expense Interest expense Income before taxes Net income Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets Total current liabilities. Long-term debt Total liabilities Total stockholders' equity Return on equity 526 637 568 % 12/31/2024 $ 1,085 1,120 1,165 13,610 Required: Compute the return on equity for 2024, for Saratoga Springs Company. Note: Round your answer to 1 decimal place, e.g., 0.1234 as 12.3%. $ 16,980 $ 5,857 5,701 $ 11,558 $ 5,422 12/31/2023 $ 75 774 629 3,954 $ 5,432 $ 2,319 2,331 $ 4,650 $ 782

The following information (in $ millions) comes from the Annual Report of Saratoga Springs Company for the year ending 12/31/2024: Year ended 12/31/2024 $ 8,059 4,877 2,019 Net sales Cost of goods sold Selling and administrative expense Interest expense Income before taxes Net income Cash and cash equivalents Receivables, net Inventories Land, buildings and equipment at cost, net Total assets Total current liabilities. Long-term debt Total liabilities Total stockholders' equity Return on equity 526 637 568 % 12/31/2024 $ 1,085 1,120 1,165 13,610 Required: Compute the return on equity for 2024, for Saratoga Springs Company. Note: Round your answer to 1 decimal place, e.g., 0.1234 as 12.3%. $ 16,980 $ 5,857 5,701 $ 11,558 $ 5,422 12/31/2023 $ 75 774 629 3,954 $ 5,432 $ 2,319 2,331 $ 4,650 $ 782

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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