Malimash Inc, 2014 Financial data (in millions) given below

Income Statement Data
Sales Revenue	$7,120.00
Depreciation	$230.00
Interest Expense	$10.00
Pretax Income	$2,550.00
Income Taxes	$900.00
Net Income	$1,650.00
Balance Sheet Data
Current Assets	$4,850.00
Fixed Assets, Net	$2,400.00
Total Assets	$7,250.00
Current Liabilities	$3,290.00
Long-Term Debt	$100.00
Shareholders' Equity	$3,860.00
Total Liabilities and Shareholders' Equity	$7,250.00

Required:

Calculate return on common equity for 2014 using year-end amounts and assuming no preferred dividends.

Answer rating: 100% (QA)

To calculate the return on common equity ROCE we need to divide the net income attributable ... View the full answer