Jerry Rice and Grain Stores has $4,780,000 in yearly sales. The firm earns 4.5 percent...

90.2K

Verified Solution

Question

Accounting

Jerry Rice and Grain Stores has $4,780,000 in yearly sales. The firm earns 4.5 percent on each dollar of sales and turns over its assets 27 times per year. It has $123,000 in current liabilities and $349,000 in long-term liabilities.
a. What is its return on stockholders' equity?
Note: Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.
Return on stockholders' equity
image

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students