Marquise Corporation Had a Return on Equity of 18

question 181

Short Answer

Marquise Corporation had a return on equity of 18%.The company had net income during the year of $147,000.There were 98,000 shares of common stock outstanding throughout the year and no preferred stock at any time.Calculate average common shareholders' equity (round to the nearest cent).

---

Definitions:

Asset Account

Represents items of value owned or controlled by a company that are expected to provide future economic benefits.

Used Or Consumed

Used or consumed describes the process of utilizing goods or services, resulting in their conversion into expenses during an accounting period.

Adjusted Accounts

Accounts that have been modified to reflect correct values after end-of-period adjustments, including corrections and updates.

Transactions Affect

Refers to the impact that business transactions have on the financial statements, altering the balances of accounts.