Homework Answers
Solution:
Return on common stockholder's equity = (Net income - Preferred dividends) / Average common stockholder's equity
Average common stockholder's equity - 2019 = ($595,000 + $796,000) / 2 = $695,500
Average common stockholder's equity - 2020 = ($796,000 + $867,000) / 2 = $831,500
Return on common stockholder's equity - 2019 = ($205,000 - $27,000) / $695,500 = 25.6%
Return on common stockholder's equity - 2020 = ($210,000 - $27,000) / $831,500 = 22.0%
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