Given the following information, what is the firm's return on common equity? BALANCE SHEET INFORMATION...
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Given the following information, what is the firm's return on common equity? BALANCE SHEET INFORMATION Cash =$1,160,000 Accounts receivable =( not given ) Inventory =$1,230,000 Fixed Assets =$4,470,000 Total assets =$7,700,000 Accounts payable =( not given ) Long-term debt =$2,300,000 Common stock =$770,000 Retained earnings =$3,570,000 Total liabilities and equity =$7,700,000 INCOME STATEMENT INFORMATION Sales =$15,400,000 Operating expense =$12,780,000 EBIT=$2,620,000 Interest expense =$322,000 EBT=$2,298,000 Taxes =$919,000 Net Income =$1,379,000
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