The Following Information Pertains to Jasmin Corporation Jasmin Corporation Had 6,000 Shares of Common Stock Issued and Sheet

question 31

Multiple Choice

The following information pertains to Jasmin Corporation.Assume that all balance sheet amounts represent both average and ending figures.
$\begin{array}{c} \text {Jasmin Corporation}\\ \text { Partial Balance Sheet }\\ \text {December \( 31,20 \mathrm{xx} \) }\\\begin{array}{|lr|}\hline\text { Liabilities and Stockholders' Equity }\\\text { Current liabilities } & \$ 60,000 \\\text { Long-term liabilities } & 90,000 \\\text { Stockholders' equity } & 150,000 \\ \text { Total liabilities and stockholders' equity } & \$ 300,000 \\\hline\end{array}\end{array}$

$\begin{array}{c} \text { Jasmin Corporation}\\ \text { Income Statement}\\ \text { For the Year Ended December 31, 20xx}\\\begin{array}{|ll|}\hline \text { Net sales } & \$ 80,000 \\ \text { Cost of goods sold } & 45,000 \\ \text { Gross margin } & \$ 35,000 \\\text { Operating expenses } & 15,000 \\ \text { Income before income taxes } & \$ 20,000 \\ \text { Income taxes expense } & 5,000 \\ \text { Net income } & \$ 15,000 \\\hline\end{array}\end{array}$
Jasmin Corporation had 6,000 shares of common stock issued and outstanding.The market price of Jasmin common stock on December 31,20xx,was $20.Jasmin paid dividends of $0.90 per share during 20xx.
What is the return on equity for this corporation? Round your answer to one decimal place.

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Definitions:

Implicit Leadership Theory

suggests that people have beliefs and expectations about the characteristics, behaviors, and traits that make an effective leader.

Competency Theory

a theory that suggests that individuals are most effective when their competencies, including knowledge, skills, and attributes, align with the demands of their job.

Symbolize Vision

To symbolize vision means to represent or embody an organization's goals, aspirations, or guiding principles in a tangible or recognizable form, enhancing alignment and inspiration among stakeholders.

Walking The Talk

Refers to individuals or organizations behaving in a manner consistent with their proclaimed values and principles.