Question: Use this information for Kellman Company to answer the question that follows The balance sheets at the end of each of the first 2 years
Use this information for Kellman Company to answer the question that follows 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 $604,000 $573,800 Total investments 66,200 52,200 Total property, plant, and equipment 884,000 634,000 Total current liabilities 118.400 87,100 Total long-term liabilities 279,900 226,700 Preferred 9 stock, $100 par 36,400 36,400 Common stock, $10 par 557,900 557,900 Pald.in capital in excess of par-Common stock 65,200 65,200 Retained earnings 447,200 286,700 Using the balance sheets for Kellman Company, If net income is $104,200 and interest expense is $37,200 for Year 2, what is the return on stockholders' equity for Year 2 (rounded to two decimal places)? Oa 10.00% Ob. 90% OC 954% Od 9.80%
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