Romax Company Had Net Income of $147,000

question 189

Multiple Choice

Romax Company had net income of $147,000.The balance sheet showed beginning and ending balances in shareholders' equity of $750,000 and $790,000,respectively.There were 69,000 common shares outstanding and no preferred stock.Calculate return on equity.

• A)0.47%
• B)2.13%
• C)19.09%
• D)11.16%

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