Fillips Company had net income of $36,700 in a year when its stockholders' equity averaged $450,000 and
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Fillips Company had net income of $36,700 in a year when its stockholders' equity averaged $450,000 and its total assets averaged $2,500,000. Calculate the company's return on equity for the period.
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Return on equity ROE is the amount of net income returned as a percentage of shareholder...View the full answer
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Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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