Lance Corporation Had a Return on Equity of 20

question 64

Short Answer

Lance Corporation had a return on equity of 20%.The company earned net income of $2,500,000 during the year.There were 200,000 shares of common stock outstanding throughout the year and no preferred stock at any time.Calculate average common shareholders' equity.

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Definitions:

Copy Development

The process of creating content for advertising or marketing materials.

Artwork

Works of art, especially visual arts, which include items like paintings, sculptures, and photographs, produced for aesthetic purposes.

Limited-Service Agency

An advertising agency that specializes in one aspect of the advertising process, such as providing creative services to develop the advertising copy, buying previously unpurchased media space, or providing Internet services.

Advertising Copy

The written or textual component of an advertising message that aims to persuade or inform the target audience.