Assume that Apex, Inc. has the following data: Net income for 2014 ...............$ 127,000 Preferred dividends for
Question:
Assume that Apex, Inc. has the following data:
Net income for 2014 ...............$ 127,000
Preferred dividends for 2014 ............ 23,000
Total shareholders’ equity, 12/31/2014 .....1,627,000
Total shareholders’ equity, 12/31/2013 .....1,589,000
Common shareholders’ equity, 12/31/2014 .....1,484,000
Common shareholders’ equity, 12/31/2013 .....1,392,000
Requirements
1. Calculate Apex’s return on equity for 2014.
2. Calculate Apex’s return on common equity for 2014.
3. Comment on Apex’s performance during 2014.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
Question Posted: