Fongeallaz Corporation's income statement for Year 2 appears below: The company's total stockholders' equity at the end of Year 2 amounted to $841,000 and at the end of Year 1 to $810,000. The company's return on equity for Year 2 is closest to:
A)64.40%
B)8.93%
C)6.75%
D)4.72%

Question

Fongeallaz Corporation's income statement for Year 2 appears below:  The company's total stockholders' equity at the end of Year 2 amounted to $841,000 and at the end of Year 1 to $810,000. The company's return on equity for Year 2 is closest to:
A)64.40% 
B)8.93% 
C)6.75% 
D)4.72%

Quizplus · Accepted Answer

The Answer of Fongeallaz Corporation's income statement for Year 2 appears below:  The company's total stockholders' equity at the end of Year 2 amounted to $841,000 and at the end of Year 1 to $810,000. The company's return on equity for Year 2 is closest to:
A)64.40% 
B)8.93% 
C)6.75% 
D)4.72%

Fongeallaz Corporation's Income Statement for Year 2 Appears Below