Assume that Pugliese Industrial Supply, Inc., has the following data: Net income for 2018 ........................................................................................$ 149,000 Total
Question:
Assume that Pugliese Industrial Supply, Inc., has the following data:
Net income for 2018 ........................................................................................$ 149,000
Total stockholders’ equity, 12/31/2018........................................................$1,812,000
Total stockholders’ equity, 12/31/2017........................................................$1,607,000
Requirements
1. Calculate Pugliese Industrial Supply’s return on equity for 2018.
2. Comment on Pugliese Industrial Supply’s performance during 2018, assuming that the industry average is between 11 and 13 percent.
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