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Use the following information: 2014 2015 Cash 140 210 Accounts payable 320 280 Accounts receivabble 340 380 Notes payable 400 300 Inventory 550 590 Long-term debt Net fixed assets 1,100 1,400 3,600 3,500 Common stock Retained earnings Total assets 1,200 980 1,610 1,720 4,630 4,680 Total liabilities & total equity 4,630 4,680 Year 2015 Sales COGS Depreciation Interest Taxes Net income $6,230 $4,720 $440 $75 $350 $645 Number of shares outstanding 100 What is the return on equity in 2015? a. 0.24 b. 1.33 c. 0.10 d. 3.38 e. 0.04

Use the following information: 2014 2015 Cash 140 210 Accounts payable 320 280 Accounts receivabble 340 380 Notes payable 400 300 Inventory 550 590 Long-term debt Net fixed assets 1,100 1,400 3,600 3,500 Common stock Retained earnings Total assets 1,200 980 1,610 1,720 4,630 4,680 Total liabilities & total equity 4,630 4,680 Year 2015 Sales COGS Depreciation Interest Taxes Net income $6,230 $4,720 $440 $75 $350 $645 Number of shares outstanding 100 What is the return on equity in 2015? a. 0.24 b. 1.33 c. 0.10 d. 3.38 e. 0.04

FINANCIAL ACCOUNTING
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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Use the following information..given answer Accounting

Use the following information: 2014 2015 Cash 140 210 Accounts payable 320 280 Accounts receivabble 340 380 Notes payable 400 300 Inventory 550 590 Long-term debt Net fixed assets 1,100 1,400 3,600 3,500 Common stock Retained earnings Total assets 1,200 980 1,610 1,720 4,630 4,680 Total liabilities & total equity 4,630 4,680 Year 2015 Sales COGS Depreciation Interest Taxes Net income $6,230 $4,720 $440 $75 $350 $645 Number of shares outstanding 100 What is the return on equity in 2015? a. 0.24 b. 1.33 c. 0.10 d. 3.38 e. 0.04
Transcribed Image Text:Use the following information: 2014 2015 Cash 140 210 Accounts payable 320 280 Accounts receivabble 340 380 Notes payable 400 300 Inventory 550 590 Long-term debt Net fixed assets 1,100 1,400 3,600 3,500 Common stock Retained earnings Total assets 1,200 980 1,610 1,720 4,630 4,680 Total liabilities & total equity 4,630 4,680 Year 2015 Sales COGS Depreciation Interest Taxes Net income $6,230 $4,720 $440 $75 $350 $645 Number of shares outstanding 100 What is the return on equity in 2015? a. 0.24 b. 1.33 c. 0.10 d. 3.38 e. 0.04
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