Reference no: EM131119727
Pacific Fixtures lists the following accounts as part of its balance sheet.
Total assets $................................................... 10,000,000
Accounts payable ............................................. $ 2,000,000
Notes payable (8%) .......................................... 1,000,000
Bonds (10%) ................................................... 3,000,000
Common stock at par .......................................... 1,000,000
Contributed capital in excess of par .................. 500,000
Retained earnings ................................................... 2,500,000
Total liabilities and stockholders' equity.............. $10,000,000
Compute the return on stockholders' equity if the company has sales of $20 million and the following net profit margin:
a. 3 percent
b. 5 percent
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