Presented below is selected financial information for Matthews Corporation for t

Question

Presented below is selected financial information for Matthews Corporation for the most recent fiscal year ended December 31 ($ millions) Assets Liabilities Cash and cash equivalents              2,432 Accounts payable            5,030 Short-term investment              1,456 Other current liabilities            2,747 Receivables, net              1,280 Total current liabilities            7,777 Merchandise inventories              5,174 Long-term liabilities            2,479 Other current assets              1,387 Shareholders' Equity            5,000 Total current assets            11,729 Total liabilities and shareholders' equity          15,256 Noncurrent assets              3,527 Total assets            15,256 Revenues            40,339 Costs and Expenses            38,889 Operating Income              1,450 Other income/expense (including interest expense of $90)                  (63) Income before income tax              1,387 Income tax expense                  141 Net income including noncontrolling interests              1,246 Previous Year's Financial Data Total Assets            14,013 Shareholders' Equity              3,989 14. The return on equity for Matthews Corporation is ________. A. 30.9% B. 27.7% C. 31.2% D. 24.9% . Presented below is selected financial information for Matthews Corporation for the most recent fiscal year ended December 31 ($ millions) Assets Liabilities Cash and cash equivalents              2,432 Accounts payable            5,030 Short-term investment              1,456 Other current liabilities            2,747 Receivables, net              1,280 Total current liabilities            7,777 Merchandise inventories              5,174 Long-term liabilities            2,479 Other current assets              1,387 Shareholders' Equity            5,000 Total current assets            11,729 Total liabilities and shareholders' equity          15,256 Noncurrent assets              3,527 Total assets            15,256 Revenues            40,339 Costs and Expenses            38,889 Operating Income              1,450 Other income/expense (including interest expense of $90)                  (63) Income before income tax              1,387 Income tax expense                  141 Net income including noncontrolling interests              1,246 Previous Year's Financial Data Total Assets            14,013 Shareholders' Equity              3,989 14. The return on equity for Matthews Corporation is ________. A. 30.9% B. 27.7% C. 31.2% D. 24.9% .

Explanation / Answer

Return on Equity = Net Income/Shareholder's Equity

= (1246/ 5000) * 100%

= 24.92%

Hence, option D

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