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Volgvan
3 years ago
6

On December​ 31, Mercury Corporation has the following data​ available:

Business
1 answer:
galben [10]3 years ago
3 0

Answer:

37.25%

Explanation:

Average total common stockholders' equity:

= (Beginning common​ stockholders' equity + Ending common​ stockholders' equity) ÷ 2

= ($530,000 + $490,000) ÷ 2

= $510,000

Return on Equity = Net income ÷ Average total common stockholders' equity

                            = $190,000 ÷ $510,000

                            = 0.3725

                            = 37.25%

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