Answer:
13.56%
Explanation:
For the computation of return in equity first we need to follow some steps which are shown below:-
D/A = Debt ÷ Total assets
Debt = $200,000 × 65%
= $130,000
Interest expense = $130,000 × 8%
= $10,400
Total assets = Total liabilities + Total equity
Total equity = $200,000 - $130,000
= $70,000
Net income = (EBIT - Interest expense) × (1 - Tax rate)
= ($25,000 - $10,400) × (1 - 0.35)
= $9,490
ROE = Net income ÷ Equity
= $9,490 ÷ $70,000
= 13.56%
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Answer:
Note: The complete question is attached as picture below
Date Account Titles and Explanation Debit Credit
12-Mar Accounts receivable $7,800
Sales $7,800
(To record the sales on account)
12-Mar Cost of goods sold $4,500
Inventory $4,500
(To record the cost of goods sold)
