The Following Comes from Simon Company's Year-End Financial Statements: Sales

question 82

Multiple Choice

The following comes from Simon Company's year-end financial statements: Sales $250,000, Cost of goods sold $100,000, Net income $12,500, Total assets $187,500 and Total liabilities $67,500.The return on equity (ROE) for the year is closest to?

• A)6.6%
• B)10.4%
• C)133.3%
• D)208.3%

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Definitions:

Lithosphere

The rigid outer layer of the Earth, encompassing the crust and the uppermost part of the mantle.

Crust

The outermost solid layer of Earth, consisting of continental and oceanic crust.

Upper Mantle

The layer of the Earth located beneath the Earth's crust and above the lower mantle, characterized by its semi-fluid asthenosphere and more rigid upper part.

Topographic Profile

A cross-sectional view of the Earth's surface elevations along a line, showing any hills, valleys, and other features.