FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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am.104.

At the beginning of the year, the net assets of Shannon Company were $328,700. The only transactions affecting stockholders' equity during the year were net income of $48, 500 and dividends of $11,500. Required: Calculate Shannon Company's
return on equity (ROE) for the year. Note: Round your answer to 1 decimal place.
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Transcribed Image Text:At the beginning of the year, the net assets of Shannon Company were $328,700. The only transactions affecting stockholders' equity during the year were net income of $48, 500 and dividends of $11,500. Required: Calculate Shannon Company's return on equity (ROE) for the year. Note: Round your answer to 1 decimal place.
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