Balance sheets for Johannesson&Johannesson for 2021 and 2020 are presented below. Johannesson&Johannesson reinvests all earnings...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Balance sheets for Johannesson&Johannesson for 2021 and 2020 are presented below. Johannesson&Johannesson reinvests all earnings for future growth (and hence pays no dividends).
| Balance Sheets | ||||||
| ($ in thousands) | ||||||
| December 31 | ||||||
| 2021 | 2020 | |||||
| Assets: | ||||||
| Cash | $ | 65 | $ | 50 | ||
| Accounts receivable | 125 | 145 | ||||
| Short-term investments | 60 | 50 | ||||
| Inventory | 250 | 170 | ||||
| Property, plant, and equipment (net) | 700 | 625 | ||||
| $ | 1,200 | $ | 1,040 | |||
| Liabilities and Shareholders Equity: | ||||||
| Current liabilities | $ | 290 | $ | 235 | ||
| Bonds payable | 185 | 185 | ||||
| Paid-in capital | 475 | 475 | ||||
| Retained earnings | 250 | 145 | ||||
| $ | 1,200 | $ | 1,040 | |||
Your task: 1. Please calculate the return on shareholders equity for 2021. (Round your answer to 2 decimal places.)
return on shareholder' equity ____ %
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.