The following selected data were taken from the financial statements of Vidahill Inc. for December 31, 20Y7, 20Y6, and 20Y5:Do not give answer in image eBookTotal assetsNotes payable (8% interest)Common stockPreferred 7% stock, $100 par(no change during year)Retained earningsShow Me How20Y7Feedback$333,000110,000Check My Work44,00022,000116,08520Y6$300,000110,00044,00022,00087,480The 2017 net income was $30,145, and the 20Y6 net income was $23,020. No dividends on common stock were declareand 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7.20Y7a. Determine the return on total assets, the return on stockholders' equity, and the return on common stockholders' equi20Y6 and 20Y7. When required, round your answers to one decimal place.%20Y5$267,000110,000%44,000%22,00066,000Return on total assetsReturn on stockholders' equityReturn on common stockholders' equityb. The profitability ratios indicate that the company's profitability has improved✔ the return on stockholders' equity in both years, there must be positiveless than20Y6%%%✓. Since the return on assets isMleverage from the use

Profitability ratios:The profitability ratio is a financial metric used to assess a company's…

Total assets Notes payable (8% interest) Common stock Preferred 7% stock, $100 par (no change during year) Retained earnings $333,000 110,000 44,000 22,000 116,085 $300,000 110,000 44,000 22,000 87,480 $267,000 110,000 44,000 22,000 66,000 The 20Y7 net income was $30,145, and the 20Y6 net income was $23,020. No dividends on common stock were declar and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7.

Total assets Notes payable (8% interest) Common stock Preferred 7% stock, $100 par (no change during year) Retained earnings $333,000 110,000 44,000 22,000 116,085 $300,000 110,000 44,000 22,000 87,480 $267,000 110,000 44,000 22,000 66,000 The 20Y7 net income was $30,145, and the 20Y6 net income was $23,020. No dividends on common stock were declar and 20Y7. Preferred dividends were declared and paid in full in 20Y6 and 20Y7.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 16E

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