Cooney Inc. reported net income of $540,000 during 2014 and paid dividends of $52,000 on common stock.
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Cooney Inc. reported net income of $540,000 during 2014 and paid dividends of $52,000 on common stock. It also has 20,000 shares of 6%, $100 par value preferred stock outstanding. Common stockholders’ equity was $2,400,000 on January 1, 2014, and $3,200,000 on December 31, 2014. The company’s return on common stockholders’ equity for 2014 is:
a). 17.4%
b). 15.0%
c). 13.1%
d). 19.3%
Related Book For
Principles Of Managerial Finance
ISBN: 978-0136119463
13th Edition
Authors: Lawrence J. Gitman, Chad J. Zutter
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