Ringo Bank Has a Profit After Taxes of $3 Million

question 49

Multiple Choice

Ringo Bank has a profit after taxes of $3 million, total assets of $300 million, and shareholders' equity of $30 million. Ringo's return on equity (ROE) is ____ percent.

• A)1.0
• B)10.0
• C)3.0
• D)None of these are correct.

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Definitions:

Cardiac Muscle

Specialized muscle tissue found only in the heart, characterized by involuntary control and the presence of intercalated discs for synchronized contraction.

Striated

Striped; marked by stripes or bands.

Spontaneous Contraction

Involuntary and automatic contraction of muscles, often referring to the muscles in various organs such as the heart.

Skeletal Muscle

A type of striated muscle attached to the skeleton that facilitates movement through contraction.