Question
Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the year ended December 31, 2023, totaled
Presented here are the comparative balance sheets of Hames Incorporated at December 31, 2023 and 2022. Sales for the year ended December 31, 2023, totaled $1,700,000.%0D%0A%0D%0AHAMES INCORPORATED%0D%0ABalance Sheets%0D%0ADecember 31, 2023 and 2022%0D%0A %092023%092022%0D%0AAssets%09 %09 %0D%0ACash%09$ 63,000%09$ 57,000%0D%0AAccounts receivable%09285,000%09266,000%0D%0AMerchandise inventory%09261,000%09247,000%0D%0ATotal current assets%09$ 609,000%09$ 570,000%0D%0ALand%09109,000%0982,000%0D%0APlant and equipment%09375,000%09330,000%0D%0ALess: Accumulated depreciation%09(195,000)%09(180,000)%0D%0ATotal assets%09$ 898,000%09$ 802,000%0D%0ALiabilities%09 %09 %0D%0AShort-term debt%09$ 54,000%09$ 51,000%0D%0AAccounts payable%09168,000%09144,000%0D%0AOther accrued liabilities%0968,000%0954,000%0D%0ATotal current liabilities%09$ 290,000%09$ 249,000%0D%0ALong-term debt%0956,000%09105,000%0D%0ATotal liabilities%09$ 346,000%09$ 354,000%0D%0AStockholders’ Equity%09 %09 %0D%0ACommon stock, no par, 200,000 shares authorized, 80,000 and 50,000 shares issued, respectively%09$ 224,000%09$ 162,000%0D%0ARetained earnings:%09 %09 %0D%0ABeginning balance%09$ 286,000%09$ 217,000%0D%0ANet income for the year%09102,000%0984,000%0D%0ADividends for the year%09(60,000)%09(15,000)%0D%0AEnding balance%09$ 328,000%09$ 286,000%0D%0ATotal stockholders’ equity%09$ 552,000%09$ 448,000%0D%0ATotal liabilities and Stockholders’ equity%09$ 898,000%09$ 802,000%0D%0ARequired:%0D%0ACalculate ROI for 2023.%0D%0ACalculate ROE for 2023.%0D%0ANote: Round your answer to 1 decimal place
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