Refer to the information for Santiago Systems above. The income statement, statement of retained earnings, and balance

Question:

Refer to the information for Santiago Systems above.
The income statement, statement of retained earnings, and balance sheet for Santiago Systems are as follows:
Refer to the information for Santiago Systems above.
The income statement,

Santiago Systems
Statement of Retained Earnings
For the Year Ended December 31, 20X2
Balance, beginning of period..............................................$1,205,500
Net income.......................................................................422,070
Total...........................................................................$1,627,570
Preferred dividends............................................................(40,000)
Dividends to common stockholders........................................(150,000)
Balance, end of period......................................................$1,437,570

Refer to the information for Santiago Systems above.
The income statement,
Refer to the information for Santiago Systems above.
The income statement,

Required:
Calculate the return on sales.

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Managerial Accounting The Cornerstone of Business Decision Making

ISBN: 978-1337115773

7th edition

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

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