Sheffield Company had $42,000 of net income in 2013.Equity at the beginning of the year was $1,200,000 and at the end of the year was $1,600,000.Sheffield has no preferred shares.Calculate the rate of return on common shareholders' equity.(Round to 3 decimal places.)
A) 0.035
B) 0.026
C) 0.030
D) 0.032
Correct Answer:
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