Easter Egg and Poultry Company has $1,190,000 in assets and $647,000 of debt. It reports net...
Easter Egg and Poultry Company has $1,190,000 in assets and $647,000 of debt. It reports net income of $185,000. Having a hard time finding part b of the question below. What is its return on stockholders’ equity?
Homework Answers
Total assets=debt+equity
equity=(1,190,000-647,000)=$543,000
ROE=net income/equity
=185,000/543,000
=34.07%(Approx).
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