On December 31,Mercury Corporation has the following data available: What is return on equity? (Round your final answer to two decimal places,X.XX%)

Name: On December 31,Mercury Corporation has the following data available: What is return on equity? (Round your final answer to two decimal places,X.XX%)
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Question

On December 31,Mercury Corporation has the following data available:  What is return on equity? (Round your final answer to two decimal places,X.XX%)

Quizplus · Accepted Answer

Average total common stockholders' equity =$520,000 + $510,000)÷ 2 = $515,000
(Net income of $180,000)÷ Average total common stockholders' equity of $515,000 = 34.95%

On December 31,Mercury Corporation Has the Following Data Available