Homework Answers
Answer:
Net Income = Sales – Cost of Goods Sold – Other Expenses
Net Income = $1,254,000 - $784,000 - $306,000
Net Income = $164,000
Average Stockholders Equity = (Beginning Stockholders Equity +
Ending Stockholder’s Equity) /2
Average Stockholders Equity = ($565,000 + $1,000,000) /2
Average Stockholders Equity = $782,500
Return on Equity = Net Income / Average Stockholders
Equity
Return on Equity = $164,000 / $782,500
Return on Equity = 21%
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