Comparative balance sheets for Softech Canvas Goods for 2018 and 2017 are shown below. Softech pays no
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Question:
Comparative balance sheets for Softech Canvas Goods for 2018 and 2017 are shown below. Softech pays no dividends, and instead reinvests all earnings for future growth.
Comparative Balance Sheets | ||||||
($ in 000s) | ||||||
December 31 | ||||||
2018 | 2017 | |||||
Assets: | ||||||
Cash | $ | 107 | $ | 78 | ||
Accounts receivable | 195 | 215 | ||||
Short-term investments | 88 | 78 | ||||
Inventory | 390 | 254 | ||||
Property, plant, and equipment (net) | 980 | 835 | ||||
$ | 1,760 | $ | 1,460 | |||
Liabilities and Shareholders’ Equity: | ||||||
Current liabilities | $ | 430 | $ | 305 | ||
Bonds payable | 255 | 255 | ||||
Paid-in capital | 685 | 685 | ||||
Retained earnings | 390 | 215 | ||||
$ | 1,760 | $ | 1,460 | |||
Required:
1. Determine the return on shareholders’ equity for 2018.
Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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