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Vector Systems reported net income of $420,000 in 2023. Its common stockholders' equity was $600,000 on Jan 1 and $720,000 on Dec 31. The company had 8,000 shares of 5%, $60 par cumulative preferred stock. During the year, a $70,000 dividend was paid to stockholders. What is Vector's 2023 return on common stockholders' equity? common

Vector Systems reported net income of $420,000 in 2023. Its common stockholders' equity was $600,000 on Jan 1 and $720,000 on Dec 31. The company had 8,000 shares of 5%, $60 par cumulative preferred stock. During the year, a $70,000 dividend was paid to stockholders. What is Vector's 2023 return on common stockholders' equity? common

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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Vector Systems reported net income of $420,000 in 2023. Its common stockholders' equity was $600,000 on Jan 1 and $720,000 on Dec 31. The company had 8,000 shares of 5%, $60 par cumulative preferred stock. During the year, a $70,000 dividend was paid to stockholders. What is Vector's 2023 return on common stockholders' equity? common
Transcribed Image Text:Vector Systems reported net income of $420,000 in 2023. Its common stockholders' equity was $600,000 on Jan 1 and $720,000 on Dec 31. The company had 8,000 shares of 5%, $60 par cumulative preferred stock. During the year, a $70,000 dividend was paid to stockholders. What is Vector's 2023 return on common stockholders' equity? common
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