Assume that Starbucks reported net income for a recent year of $564 million. Its stockholders’ equity...
Assume that Starbucks reported net income for a recent year of $564 million. Its stockholders’ equity is $2,229 million and $2,090 million, respectively. Compute its return on equity.
Homework Answers
Answer is 26.1%
Net Income = $564 million
Average Stockholders’ Equity = ($2,229 million + $2,090 million)
/ 2
Average Stockholders’ Equity = $2,159.50 million
Return on Equity = Net Income / Average Stockholders’
Equity
Return on Equity = $564 million / $2,159.50 million
Return on Equity = 0.261 or 26.1%
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