Question: The average shareholders' equity for Mickey Co. for 2021 was P2,000,000. Included in this figure is P200,000 par value of 8% preference share, which remained

The average shareholders' equity for Mickey Co. for 2021 was P2,000,000. Included in this figure is P200,000 par value of 8% preference share, which remained unchanged during the year. If the return on ordinary shareholders' equity was 12.5% during 2021, net income was P250,000 P225,000 P234,000 P241,000

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