Financial Statement Analysis Questions:

Testbank, Question 81 The following data was taken from the accounting records of Whalen Corporation 2016 2015 Total assets $950,000$850,000 Total liabilities 250,000 240,000 Preferred shares 75,000 75,000 Common shares 300,000 300,000 Retained earnings 325,000 235,000 Additional data: 140,000 Net income Interest expense 25,000 Sales revenue 980,000 The return on equity for 2016 is 20.0%. 21.4%. 26.7% 46.7%