The financial statements of Colorado Outfitters include the following selected data ($ in millions): sales, $9,543; net

Question:

The of Colorado Outfitters include the following selected data ($ in millions): sales, $9,543; net income, $320; beginning stockholders’ equity, $3,219; and ending stockholders’ equity, $2,374. Calculate the return on equity.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...