The Following Financial Statement Information Is Available for Howard Corporation

question 89

Multiple Choice

The following financial statement information is available for Howard Corporation: $\begin{array}{lrr}&2014&2013\\\text { Shareholders' equity-ordinary } & \$ 330,000 & \$ 270,000 \\\text { Net sales } & 784,000 & 697,000 \\\text { Cost of goods sold } & 406,000 & 377,000 \\\text { Net income } & 115,000 & 80,000 \\\text { Tax expense } & 50,000 & 29,000 \\\text { Interest expense } & 15,000 & 14,000\\\text { Dividends paid to preference }\\\text { shareholders }& 22,000 & 20,000 \\\text { Dividends paid to ordinary } & & \\\text { shareholders } & 15,000 & 10,000\end{array}$ The return on ordinary shareholders' equity for 2014 is

• A) 26.0%.
• B) 38.3%.
• C) 33.3%.
• D) 31.0%.

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Definitions:

Dissenting Values

Values or beliefs that differ significantly from those of the dominant group or culture, leading to opposing viewpoints or actions.

Subcultures

Groups within a broader culture that distinguish themselves through a unique set of behaviors, values, and norms.

Dominant Culture

The prevailing values, beliefs, and norms in an organization or society, which often influence the behavior and attitudes of its members.

Organizational Culture

The shared values, beliefs, and norms that influence the behavior and practices of individuals within an organization.