The balance sheets at the end of each of the first 2 years of operations indicate...
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The balance sheets at the end of each of the first 2 years of operations indicate the following: Kellman Company Year 2 Year 1 Total current assets $622,200 $571,100 Total investments 61,000 46,100 Total property, plant, and equipment 934,400 606,800 Total current liabilities 102,000 85,000 Total long-term liabilities 303,500 242,600 Preferred 9% stock, $100 par 87,800 87,800 Common stock, $10 par 587,200 587,200 Paid-in capital in excess of par-common stock Retained earnings 60,800 476,300 60,800 160,600 Using the balance sheets for Kellman Company, if net income is $105,900 and interest expense is $38,200 for Year 2, what is the return on stockholders' equity for Year 2 (round percent to two decimal points)? O a. 13.10% O b. 10.96% O c. 12.53% d. 9.42% The balance sheets at the end of each of the first 2 years of operations indicate the following: Kellman Company Year 2 Year 1 Total current assets $622,200 $571,100 Total investments 61,000 46,100 Total property, plant, and equipment 934,400 606,800 Total current liabilities 102,000 85,000 Total long-term liabilities 303,500 242,600 Preferred 9% stock, $100 par 87,800 87,800 Common stock, $10 par 587,200 587,200 Paid-in capital in excess of par-common stock Retained earnings 60,800 476,300 60,800 160,600 Using the balance sheets for Kellman Company, if net income is $105,900 and interest expense is $38,200 for Year 2, what is the return on stockholders' equity for Year 2 (round percent to two decimal points)? O a. 13.10% O b. 10.96% O c. 12.53% d. 9.42%
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