Abigail Company Reports the Following Determine the a Rate Earned on Stockholders' Equity,and B Rate

question 163

Essay

Abigail Company reports the following:
$\begin{array}{|l|r|}\hline\text { Net income } & \$ 295,000 \\\hline \text { Preferred dividends } & 30,000 \\\hline \text { Average stockholders' equity } & 1,000,000 \\\hline \text { Average common stockholders' equity } & 700,000 \\\hline\end{array}$ Determine the a rate earned on stockholders' equity,and b rate earned on common stockholders' equity.Round your answer to one decimal place.

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