The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, December 31 20Υ7 20Υ6 20Y5 Total assets $168,000 $151,000 $134,000 Notes payable (8% interest) 60,000 60,000 60,000 Common stock 24,000 24,000 24,000 Preferred 4% stock, $100 par 12,000 12,000 12,000 (no change during year) Retained earnings 67,085 48,045 36,000 The 20Y7 net income was $19,520, and the 20Y6 net income was $12,525. No dividends on common stock were declared 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equit and 20Y7. Round percentages to one decimal place. 20Υ7 20Υ6 Return on total assets 15.2 V % 12.2 % Return on stockholders' equity 20.9 16.1 V % Return on common stockholders' equity % b. The profitability ratios indicate that the company's profitability has improved v Since the rate of return on total assets the return on stockholders' eauitv in both vears there must be nositive v leverace from the use of debt.

The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, December 31 20Υ7 20Υ6 20Y5 Total assets $168,000 $151,000 $134,000 Notes payable (8% interest) 60,000 60,000 60,000 Common stock 24,000 24,000 24,000 Preferred 4% stock, $100 par 12,000 12,000 12,000 (no change during year) Retained earnings 67,085 48,045 36,000 The 20Y7 net income was $19,520, and the 20Y6 net income was $12,525. No dividends on common stock were declared 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7. a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equit and 20Y7. Round percentages to one decimal place. 20Υ7 20Υ6 Return on total assets 15.2 V % 12.2 % Return on stockholders' equity 20.9 16.1 V % Return on common stockholders' equity % b. The profitability ratios indicate that the company's profitability has improved v Since the rate of return on total assets the return on stockholders' eauitv in both vears there must be nositive v leverace from the use of debt.

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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