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Calculate return on equity for the year

At the beginning of the year, the net assets of Carby Co. were $346,800. The only transactions affecting owners' equity during the year were net income of $42,300 and dividends of $12,000.

Required:

Calculate Carby Co.'s return on equity (ROE) for the year. Round your percentage answer to one decimal place.

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Finance Basics: Calculate return on equity for the year

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Calculate return on equity for the year

Reference No:- TGS0680320

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Calculate return on equity for the year

Reference No:- TGS0680320

Recent Questions Asked Finance Basics

Q : What is the expected capital gain yield for second period

Q : Differences between straight line depreciation

Q : What is the projects internal rate of return

Q : How should the acquisition of the preferred stock be account

Q : Calculate return on equity for the year

Q : The schedule of funding progress

Q : Strategies for paying for college expenses

Q : Decision matrix presenting net profit or loss

Q : The options are exercised

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