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Calculate the return on equity at december

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Question - Nicco Corporation had the following accounts at January 1, 2013:common shares, unlimited number of shares authorized, 18,000 shares issued, $180,000;preferred shares, $4 cumulative, unlimited number of shares authorized, 1,000 shares issued, $50,000; retained earnings, $223,000. The company has profit of $79,000 in 2013 and paid $85,000 in dividends. Calculate the return on equity at December 31, 2013. What does this ratio tell you about the corporation?

Reference no: EM132535791

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