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What is the return on common stock holders equity

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Reference no: EM132806832

Question - The following data are provided:

December 31st 2021 2020

Cash $1700000 $1010000

Accounts receivable (net) 1650000 1200000

Inventories 2750000 2200000

Plant assets (net) 7500000 6500000

Accounts payable 1100000 780000

Income taxes payable 210000 90000

Bonds payable 1450000 1450000

10% Preferred stock, $50 par 2100000 2100000

Common stock, $10 par 2450000 1800000

Paid-in capital in excess of par 1550000 1400000

Retained earnings 4050000 3400000

Net credit sales 1,300,0000

Cost of goods sold 8300000

Operating expenses 2950000

Net income 1600000

Additional information: Depreciation included in cost of goods sold and operating expenses is $1210000. On May 1, 2021, 65000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2021.

Required - What is the return on common stock holders' equity for 2021?

Reference no: EM132806832

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