The following information is for the year 2018 for Miller Company and Grand Company, which are in the same industry:

	Miller			Grand
Current assets (ending)	$40,800			$150,000
Long-term assets (ending)	$80,000			$280,000
Current liabilities (ending)	$17,000			$120,000
Long-term liabilities (ending)	$40,000			$260,000
Current assets (beginning)	$50,000			$170,000
Long-term assets (beginning)	$75,000			$320,000
Current liabilities (beginning)	$20,000			$180,000
Long-term liabilities (beginning)	$40,000			$300,000
Net sales	$300,000			$1,700,000
Net income	$6,000			$18,700
Market price per share	$17			$51
Number of shares outstanding (ending)	12,000	shares		6,000	shares
Number of shares outstanding (weighted-average)	15,000	shares		5,500	shares

How do I find the return on equity in % (?)

Answer rating: 100% (QA)

Solution RETURN ON EQUITYNET INCOMESHAREHOLDERS EQUITY SHARE... View the full answer