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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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
526
637
568
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
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%.
Return on equity
12/31/2024 12/31/2023
$ 1,085
1,120
1,165
13,610
$ 16,980
$ 5,857
5,701
$ 11,558
$ 5,422
%
$75
774
629
3,954
$ 5,432
$ 2,319
2,331
$ 4,650
$ 782
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