Comparative financial statements are provided below:

-Refer to Recovery Solutions,Inc.Calculate the return on common equity ratio for Year 3 and Year 2.Assume that preferred share and total shareholders' equity at June 30,Year 1,were $3,157 and $969,000,respectively.

Question

Comparative financial statements are provided below:
  
-Refer to Recovery Solutions,Inc.Calculate the return on common equity ratio for Year 3 and Year 2.Assume that preferred share and total shareholders' equity at June 30,Year 1,were $3,157 and $969,000,respectively.

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The Answer of Comparative financial statements are provided below:
  
-Refer to Recovery Solutions,Inc.Calculate the return on common equity ratio for Year 3 and Year 2.Assume that preferred share and total shareholders' equity at June 30,Year 1,were $3,157 and $969,000,respectively.

Comparative Financial Statements Are Provided Below