Question: Precision Tool 2011 and 2012 Balance Sheets 2011 2012 2011 2012 Cash $2.060 $1.003 $7.250 $8,384 Accounts rec. 3,411 4.218 9,800 11,500 Accounts payable Long-term

Precision Tool 2011 and 2012 Balance Sheets 2011 2012 2011 2012 Cash $2.060 $1.003 $7.250 $8,384 Accounts rec. 3,411 4.218 9,800 11,500 Accounts payable Long-term debt Common stock Retained earning 18,776 21.908 17.500 Inventory Total 15,000 6.357 $24,247 $27.129 3.825 Net fixed assets L.160 4080 Total assets $18.407 $41,209 Total lab & equity $38.407 $41.209 Precision Tool 2012 Income Statement Net sales $36,408 28,225 Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid 4 Taxable income 1.760 6,423 510 $5,913 2.020 $3.843 Less: Taxes Net income What is the return on equity for 2012

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