### Accounting Information from Jones CompanyThe following data has been extracted from the accounting records of Jones Company. Please round the percentage to one decimal place.#### Financial Information:- **Net Sales:** $316,279- **Net Income:** $68,000- **Average Total Assets:** $590,000- **Average Total Liabilities:** $390,000- **Average Total Stockholders' Equity:** $245,000Based on this information, calculate the company's return on equity (ROE).### Multiple Choice Options- The answer cannot be determined from the information provided.- 27.8%- 21.5%To calculate the ROE, use the following formula:\[ \text{Return on Equity (ROE)} = \left( \frac{\text{Net Income}}{\text{Average Total Stockholders' Equity}} \right) \times 100 \% \]Use the provided financial information to determine which option is correct. The image shows a multiple-choice question from an online educational platform. The question is:"Based on this information the company's return on equity is"The answer options provided are:1. The answer cannot be determined from the information provided.2. 27.8%3. 21.5%4. 11.5%This question is part of a quiz or assessment, indicated by an interface navigation showing "Prev," "6 of 9," and "Score answer." No additional context or diagrams are available in the image.

Return on equity - Return on equity measures the profitability of the business in relation to…

The following information was drawn from the accounting records of Jones Company. (Round the percentage to 1 decimal pla Net sales $316,279 Net income 68,000 Average total assets Average total liabilities Average total stockholders' equity 590,000 390,000 245,000 Based on this information the company's return on equity is

The following information was drawn from the accounting records of Jones Company. (Round the percentage to 1 decimal pla Net sales $316,279 Net income 68,000 Average total assets Average total liabilities Average total stockholders' equity 590,000 390,000 245,000 Based on this information the company's return on equity is

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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