These account balances at December 31 relate to Sportaid Inc.: Accounts Payable... Accounts Receivable Common Shares... $ 51,700 Preferred shares, $0.01, 81,350 890,000 shares issued 593,000 Retained Earnings... 3,400 Notes Receivable... Bonds Payable.. *All dividends were declared in the current year. 89,000 71,800 12,500 Sportaid's net income for the period is $119,600 and beginning common shareholders' equity is $681,400, and it declared the full amount of annual dividends on th preferred shares. What is Sportaid's return on common shareholders' equity? (Round the percentage to the nearest tenth percent, X.X%.) O A. 18.6% OB. 15.7% O C. 16.4% O D. 17.5%
These account balances at December 31 relate to Sportaid Inc.: Accounts Payable... Accounts Receivable Common Shares... $ 51,700 Preferred shares, $0.01, 81,350 890,000 shares issued 593,000 Retained Earnings... 3,400 Notes Receivable... Bonds Payable.. *All dividends were declared in the current year. 89,000 71,800 12,500 Sportaid's net income for the period is $119,600 and beginning common shareholders' equity is $681,400, and it declared the full amount of annual dividends on th preferred shares. What is Sportaid's return on common shareholders' equity? (Round the percentage to the nearest tenth percent, X.X%.) O A. 18.6% OB. 15.7% O C. 16.4% O D. 17.5%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please do not give solution in image format
Transcribed Image Text:These account balances at December 31 relate to Sportaid Inc.:
$ 51,700 Preferred shares, $0.01,
81,350 890,000 shares issued
593,000 Retained Earnings
3,400 Notes Receivable..
Accounts Payable...
Accounts Receivable
Common Shares..
Bonds Payable
*All dividends were declared in the current year.
Sportaid's net income for the period is $119,600 and beginning common shareholders' equity is $681,400, and it declared the full amount of annual dividends on the
preferred shares. What is Sportaid's return on common shareholders' equity?
(Round the percentage to the nearest tenth percent, X.X%.)
OA. 18.6%
O B. 15.7%
O C. 16.4%
O D. 17.5%
***
89,000
71,800
12,500
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education