The following is the excerpt of financial information of Dreamies Corporation on December 31, 2022: Account Amount Gross profit P5,000,000.00 Operating Expense 120,000.00 Other expense 300,000.00 Income Tax expense 50,000.00 Current Assets 450,000.00 Non-current assets 7,000,000.00 Total Liabilities 750,000.00 What percent is Dreamies Corporation's return on equity on December 31, 20227 cannot be determined 60.8% 64.71% D) 67.61%
The following is the excerpt of financial information of Dreamies Corporation on December 31, 2022: Account Amount Gross profit P5,000,000.00 Operating Expense 120,000.00 Other expense 300,000.00 Income Tax expense 50,000.00 Current Assets 450,000.00 Non-current assets 7,000,000.00 Total Liabilities 750,000.00 What percent is Dreamies Corporation's return on equity on December 31, 20227 cannot be determined 60.8% 64.71% D) 67.61%
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 12P
Related questions
Question
![The following is the excerpt of financial information of Dreamies Corporation on December 31, 2022:
Account
Amount
Gross profit
P5,000,000.00
Operating Expense
120,000.00
Other expense
300,000.00
Income Tax expense
50,000.00
Current Assets
450,000.00
Non-current assets
7,000,000.00
Total Liabilities
750,000.00
What percent is Dreamies Corporation's return on equity on December 31, 2022?
(A) cannot be determined
B) 60.8%
64.71%
D) 67.61%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Facc2ee48-86f5-4e60-bfe9-dbddc1c5d663%2F3ad36032-5a68-4ff1-9a69-ffb38d870a4c%2Fut1wnaa_processed.png&w=3840&q=75)
Transcribed Image Text:The following is the excerpt of financial information of Dreamies Corporation on December 31, 2022:
Account
Amount
Gross profit
P5,000,000.00
Operating Expense
120,000.00
Other expense
300,000.00
Income Tax expense
50,000.00
Current Assets
450,000.00
Non-current assets
7,000,000.00
Total Liabilities
750,000.00
What percent is Dreamies Corporation's return on equity on December 31, 2022?
(A) cannot be determined
B) 60.8%
64.71%
D) 67.61%
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Intermediate Financial Management (MindTap Course…](https://www.bartleby.com/isbn_cover_images/9781337395083/9781337395083_smallCoverImage.gif)
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
![Fundamentals Of Financial Management, Concise Edi…](https://www.bartleby.com/isbn_cover_images/9781337902571/9781337902571_smallCoverImage.jpg)
Fundamentals Of Financial Management, Concise Edi…
Finance
ISBN:
9781337902571
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
![Intermediate Financial Management (MindTap Course…](https://www.bartleby.com/isbn_cover_images/9781337395083/9781337395083_smallCoverImage.gif)
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
![Fundamentals Of Financial Management, Concise Edi…](https://www.bartleby.com/isbn_cover_images/9781337902571/9781337902571_smallCoverImage.jpg)
Fundamentals Of Financial Management, Concise Edi…
Finance
ISBN:
9781337902571
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning