Selected data for VHRV Inc. as of 31 December of each year is as follows: 2019 2020 Preferred stock, 8% par P100, non-cumulative 250,000 250,000 Common stock 600,000 800,000 Retained earnings 150,000 370,000 Dividends paid on preferred stock for the year 20,000 20,000 Net income for the year 120,000 240,000 What is VHRV Inc. return on common equity in 2020?
Selected data for VHRV Inc. as of 31 December of each year is as follows:
2019 2020
Common stock 600,000 800,000
Dividends paid on preferred stock for the year 20,000 20,000
Net income for the year 120,000 240,000
What is VHRV Inc. return on common equity in 2020?
Step by step
Solved in 2 steps
