Solution-What is the return on stockholders equity for year

What is the return on stockholders equity for year two

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Question - The balance sheets at the end of each of the first two years of operations indicate the following:

Kellman Company
	Year 2	Year 1
Total current assets	$600,000	$583,800
Total investments	67,300	48,300
Total property, plant, and equipment	930,700	742,600
Total current liabilities	103,000	80,500
Total long-term liabilities	279,000	233,800
Preferred 9% stock, $100 par	95,800	95,800
Common stock, $10 par	507,300	507,300
Paid-in capital in excess of par-common stock	64,800	64,800
Retained earnings	548,100	392,500

Using the balance sheets for Kellman Company, if net income is $119,300 and interest expense is $45,300 for Year 2, what is the return on stockholders' equity for Year 2 (round percent to two decimal points)?

Reference no: EM133145777

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What is the return on stockholders equity for year two

Reference no: EM133145777

Reference no: EM133145777

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