I\"M STUCK!! Please help me with these two questions!! 1.) The average stockhold
ID: 2372939 • Letter: I
Question
I"M STUCK!! Please help me with these two questions!!
1.) The average stockholders' equity for Horn Co. last year was $3,100,000. Included in this figure was $310,000 of preferred stock. Preferred dividends were $38,000. If the return on common stockholders' equity was 12.5% for the year, net income was:
(PLEASE SHOW WORK)
B. $349,500
C. $348,750
D. $386,750
2.) Brandon Company's net income last year was $140,000 and its interest expense was $38,500. Total assets at the beginning of the year were $790,000 and total assets at the end of the year were $840,000. The company's income tax rate was 30%. The company's return on total assets for the year was closest to:
(PLEASE SHOW WORK)
A. 20.5%
B. 21.1%
C. 17.2%
D. 19.9%
Explanation / Answer
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