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No dividends were paid during 2014 and net income for the

Question - Smith Inc. had 500,000 shares of $2 par common stock outstanding at the end of both 2013 and 2104. Retained earnings at the end of 2013 amounted to $1,800,000. No dividends were paid during 2014, and net income for the year was $400,000. Determine Smith's return on stockholders' equity for 2014.

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Accounting Basics: No dividends were paid during 2014 and net income for the

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