Calculate return on common stockholders equity
The average stockholders' equity for Horn Co. last year was $3,200,000. Included in this figure was $320,000 of preferred stock. Preferred dividends were $28,000. If the return on common stockholders' equity was 11.5% for the year, net income was?
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The average stockholders' equity for Horn Co. last year was $3,200,000. Included in this figure was $320,000 of preferred stock. Preferred dividends were $28,000.
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