Comparative balance sheets for Softech Canvas Goods for 2013 and 2012 are shown below. Softech pays no
Question:
Comparative balance sheets for Softech Canvas Goods for 2013 and 2012 are shown below. Softech pays no dividends, and instead reinvests all earnings for future growth.
Required:
1. Determine the return on shareholders’ equity for 2013.
2. What does the ratiomeasure?
Transcribed Image Text:
Comparative Balance Sheets (S in 000s) 2013 2012 Assets: Accounts receivable Short-term investments Inventory Property, plant, and equipment (net) $ 50 100 50 200 600 $ 40 120 40 140 550 $1.000 $890 Liabilities and Shareholders Equity: Current liabilities Bonds payable Paid-in capital Retained earnings $ 240 160 400 200 $1,000 $210 160 400 120 $890
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Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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