Selected financial data for Irvington Company appear below: Account Balances ...

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Accounting

Selected financial data for Irvington Company appear below:
Account Balances
End of year Beginning of year
Preferred shares $125,000 $125,000
Common shares $400,000 $300,000
Retained earnings $185,000 $75,000
During the year, the company paid dividends of $10,000 on its preferred shares. The company's net income for the year was $120,000. The company's return on common shareholders' equity for the year is closest to:
Multiple Choice
19%.
17%.
25%.
23%.

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