Connors,Inc.provides the following information for 2017:
$\begin{array}{ll}
\text { Net income } & \$ 180,000 \
\text { Market price per share of common stock } & \$ 20.00 / \text { share }
\end{array}$
$\begin{array}{ll}
\text { Common stockholders' equity at Jan. } 1,2017 & \$ 1,100,000 \
\text { Common stockholders' equity at Dec. } 31,2017 & \$ 1,500,000 \
12 \% \text { preferred stock outstanding } & \$ 100,000
\end{array}$
Calculate return on common stockholders' equity.(Round to two decimals. )

Question

Connors,Inc.provides the following information for 2017:
 $\begin{array}{ll}
\text { Net income } & \$ 180,000 \
\text { Market price per share of common stock } & \$ 20.00 / \text { share }
\end{array}$
 $\begin{array}{ll}
\text { Common stockholders' equity at Jan. } 1,2017 & \$ 1,100,000 \
\text { Common stockholders' equity at Dec. } 31,2017 & \$ 1,500,000 \
12 \% \text { preferred stock outstanding } & \$ 100,000
\end{array}$
 Calculate return on common stockholders' equity.(Round to two decimals. )

Quizplus · Accepted Answer

The Answer of Connors,Inc.provides the following information for 2017:
 $\begin{array}{ll}
\text { Net income } & \$ 180,000 \
\text { Market price per share of common stock } & \$ 20.00 / \text { share }
\end{array}$
 $\begin{array}{ll}
\text { Common stockholders' equity at Jan. } 1,2017 & \$ 1,100,000 \
\text { Common stockholders' equity at Dec. } 31,2017 & \$ 1,500,000 \
12 \% \text { preferred stock outstanding } & \$ 100,000
\end{array}$
 Calculate return on common stockholders' equity.(Round to two decimals. )