How did they get the return on equity for runs and goses to


In its closing financial statements for its first year in business, the Runs and Goses Company, had cash of $242, accounts receivable of $850, inventory of $820, net fixed assets of $3,408, accounts payable of $700, short-term notes payable of $740, long-term liabilities of $1,100, common stock of $1,160, retained earnings of $1,620, net sales of $2,768, cost of goods sold of $1,210, depreciation of $360, interest expense of $160, taxes of $312, addition to retained earnings of $508, and dividends paid of $218

How did they get the return on equity for Runs and Goses to 26.1%

Solution Preview :

Prepared by a verified Expert
Finance Basics: How did they get the return on equity for runs and goses to
Reference No:- TGS02686393

Now Priced at $10 (50% Discount)

Recommended (91%)

Rated (4.3/5)