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Category > Accounting Posted 08 Oct 2017 My Price 5.00

At the beginning of the year, the net assets of Shannon Co

At the beginning of the year, the net assets of Shannon Co. were $375,000. The only transactions affecting stockholders' equity during the year were net income of $36,000 and dividends of $16,500.

 

Required:

Calculate Shannon Co.'s return on equity (ROE) for the year. (Round your answer to 1 decimal place.)

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SmartExpert
(118)
Status NEW Posted 08 Oct 2017 09:10 PM My Price 5.00

Sha-----------nno-----------n C-----------o-----------

Attachments

file 1507497680-Shannon Co.xlsx preview (115 words )
23-----------211-----------58&-----------amp-----------;am-----------p;i-----------nfo-----------Id=-----------555-----------051-----------Ret-----------urn----------- On----------- eq-----------uit-----------yAt----------- th-----------e b-----------egi-----------nni-----------ng -----------of -----------the----------- ye-----------ar,----------- th-----------e n-----------et -----------ass-----------ets----------- of----------- Sh-----------ann-----------on -----------Co.----------- we-----------re -----------$37-----------5,0-----------00.----------- Th-----------e o-----------nly----------- tr-----------ans-----------act-----------ion-----------s a-----------ffe-----------cti-----------ng -----------sto-----------ckh-----------old-----------ers-----------' e-----------qui-----------ty -----------dur-----------ing----------- th-----------e y-----------ear----------- we-----------re -----------net----------- in-----------com-----------e o-----------f $-----------36,-----------000----------- an-----------d d-----------ivi-----------den-----------ds -----------of -----------$16-----------,50-----------0.R-----------equ-----------ire-----------d:C-----------alc-----------ula-----------te -----------Sha-----------nno-----------n C-----------o.'-----------s r-----------etu-----------rn -----------on -----------equ-----------ity----------- (R-----------OE)----------- fo-----------r t-----------he -----------yea-----------r.Â----------- (R-----------oun-----------d y-----------our----------- an-----------swe-----------r t-----------o 1----------- de-----------cim-----------al -----------pla-----------ce.-----------) S-----------han-----------non----------- Co-----------. $-----------Net----------- as-----------set-----------s a-----------t t-----------he -----------beg-----------inn-----------ing----------- of----------- th-----------e y-----------ear-----------Add-----------ing----------- Ne-----------t I-----------nco-----------me -----------for----------- th-----------e
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