The financial statements of Midwest Tours are given below. Refer to the financial statements of Midwest Tours.The firm's return on equity ratio for 2009 is
A)12.24%.
B)14.63%.
C)15.50%.
D)14.50%.
E)16.9%.

Name: The financial statements of Midwest Tours are given below. Refer to the financial statements of Midwest Tours.The firm's return on equity ratio for 2009 is A)12.24%. B)14.63%. C)15.50%. D)14.50%. E)16.9%.
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Question

The financial statements of Midwest Tours are given below.  Refer to the financial statements of Midwest Tours.The firm's return on equity ratio for 2009 is
A)12.24%. 
B)14.63%. 
C)15.50%. 
D)14.50%. 
E)16.9%.

Quizplus · Accepted Answer

$228,000/[($1,520,000 + $1,420,000)) 2] = .155.

The Financial Statements of Midwest Tours Are Given Below