Calculate the return on equity for mm

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Reference no: EM13937594

Calculate return on equity.

Use the following data to calculate the return on equity for Mighty Motors (MM) Inc. At the beginning of 2008, MM's current assets totaled $57,855 (in millions), total assets to taled $449,999 (in millions), and total liabilities totaled $424,424 (in millions). For the year ended December 31, 2008, net income was $3,822 (in millions). At the end of 2008, the current assets were $62,397 (in millions) , total assets were $369,053 (in millions), and to tal liabilities were $361,960 (in millions). Mighty Motors has no preferred stock. Calculate the return on equity (ROE) for MM for 2008. Make sure you use average shareholders' eq uity in your calculation.

Reference no: EM13937594

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