Question

Selected information for Berry Company is as follows:
Average common stock .......... $600,000
Average additional paid-in capital ...... 250,000
Average retained earnings .......... 370,000
Sales revenue for year ........... 915,000
Net income for year ............. 240,000
Berry’s return on equity, rounded to the nearest percentage point, is
a. 20 percent
b. 21 percent
c. 28 percent
d. 40 percent


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  • CreatedSeptember 22, 2015
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