Lance Corporation had a return on equity of 20%.The company earned net income of $2,500,000 during the year.There were 200,000 shares of common stock outstanding throughout the year and no preferred stock at any time.Calculate average common shareholders' equity.

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The Answer of Lance Corporation had a return on equity of 20%.The company earned net income of $2,500,000 during the year.There were 200,000 shares of common stock outstanding throughout the year and no preferred stock at any time.Calculate average common shareholders' equity.

Lance Corporation Had a Return on Equity of 20