Horngren's Financial & Managerial Accounting (5th Edition)
5th Edition
ISBN: 9780133866292
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter 13, Problem 13.34E
Computing
Louisville Exploration Company reported these figures for 2016 and 2015:
| 2016 | 2015 | |
| Income Statement-partial: | ||
| Net Income | $ 15,500,000 | $ 18,800,000 |
| Dec. 31, 2016 | Dec. 31, 2015 | |
| Total Assets | $ 324,000,000 | $ 316,000,000 |
| 2,600,000 | 2,600,000 | |
| Common Stock | 180,000,000 | 171,000,000 |
| 7,000,000 | 5,500,000 | |
| Total Stockholders' Equity | $ 189,600,000 | $ 179,100,000 |
Compute rate of return on common stockholders' equity for 2016 assuming no dividends were paid to preferred stockholders.
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Chapter 13 Solutions
Horngren's Financial & Managerial Accounting (5th Edition)
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