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The following information pertains to Rural Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.What is the return on common stockholders’ equity for Rural?

05 / 03 / 2018 Assignment

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The
following information pertains to Rural Company. Assume that all balance sheet
amounts represent both average and ending balance figures. Assume that all sales were on credit.

Assets

Cash
and short-term investments $ 40,000

Accounts
receivable (net) 30,000

Inventory 40,000

Property,
plant and equipment 220,000

Total Assets $330,000

Liabilities and Stockholders’ Equity

Current
liabilities $ 60,000

Long-term
liabilities 70,000

Stockholders’
equity—common 200,000

Total Liabilities and
Stockholders’ Equity $330,000


MC 128. (Cont.)

Income Statement

Sales $ 90,000

Cost of
goods sold 44,000

Gross
profit 46,000

Operating
expenses 30,000

Net income $ 16,000

Number of shares of common stock 5,000

Market
price of common stock $22

Dividends
per share 1.00

What is the return on common
stockholders’ equity for Rural?


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