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Home Q & A Board Other Fields Homework Help Business Accounting
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tivo tivo
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7 years ago
Based on the following information, in which year did the company have the best return on equity?

   Year 1   Year 2   Year 3
Sales   $3,000,000   $2,000,000   $1,000,000
Net Income   $500,000   $500,000   $500,000
Average Common
Stockholders' Equity   $2,500,000   $2,380,952   $2,272,727

A) Year 1
B) Year 2
C) Year 3
D) The company had the same return on equity all three years. No year is better than another.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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largerthanlifelargerthanlife
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7 years ago
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tivo Author
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#2
7 years ago
I appreciate it once again, answered correctly
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