Question: Need help solving this problem. 19. Presented below is information related to Riordan, Inc.: December 31. 20X4 20X3 Common stock $ 75,000 $ 60,000 6%

Need help solving this problem. 19. Presented below is information related

Need help solving this problem.

19. Presented below is information related to Riordan, Inc.: December 31. 20X4 20X3 Common stock $ 75,000 $ 60,000 6% Preferred stock 350,000 350,000 Retained earnings (includes net income for current year) 90,000 75,000 Net income for year 45,000 32,000 What is Riordan's rate of return on common stock equity for 20X4

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