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Question 1 of 224.54 Points Assets 2017 2016 ...

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Accounting

Question 1 of 224.54 Points

Assets 2017 2016
Cash 60,000 20,000
Accounts receivable (net) 50,000 30,000
Inventory 30,000 20,000
Property, plant and equipment (net) 220,000 170,000
Total assets 360,000 240,000
Liabilities
Current liabilities 60,000 10,000
Long-term liabilities 100,000 30,000
Owners Equity
Common Stock 120,000 150,000
Retained Earnings 80,000 50,000
Total liabilities and owners equity 360,000 240,000
Net sales 500,000
Cost of goods sold 280,000
Gross profit 220,000
Operating expenses 160,000
Net income 60,000

What is the return on equity in 2017?

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