Lisa Inc.'s balance sheet appears below:
The company's sales for the year were $300,000, its cost of goods sold was $220,000, and its net income was $35,000. All sales were on credit. Dividends paid on preferred shares for the year were $5,000.

-Lisa Inc.'s return on common shareholders' equity for Year 2 was closest to which of the following?

Question

Lisa Inc.'s balance sheet appears below:
The company's sales for the year were $300,000, its cost of goods sold was $220,000, and its net income was $35,000. All sales were on credit. Dividends paid on preferred shares for the year were $5,000.

-Lisa Inc.'s return on common shareholders' equity for Year 2 was closest to which of the following?

Quizplus · Accepted Answer

The Answer of  Lisa Inc.'s balance sheet appears below:
The company's sales for the year were $300,000, its cost of goods sold was $220,000, and its net income was $35,000. All sales were on credit. Dividends paid on preferred shares for the year were $5,000.

-Lisa Inc.'s return on common shareholders' equity for Year 2 was closest to which of the following?

Lisa Inc.'s Balance Sheet Appears Below