The financial statements of Snapit Company are given below. Refer to the financial statements of Snapit Company.The firm's return on equity ratio for 2009 is
A)0.1235.
B)0.0296.
C)0.2960.
D)2.2960.

Name: The financial statements of Snapit Company are given below. Refer to the financial statements of Snapit Company.The firm's return on equity ratio for 2009 is A)0.1235. B)0.0296. C)0.2960. D)2.2960.
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Question

The financial statements of Snapit Company are given below.  Refer to the financial statements of Snapit Company.The firm's return on equity ratio for 2009 is
A)0.1235. 
B)0.0296. 
C)0.2960. 
D)2.2960.

Quizplus · Accepted Answer

$222,000/[($850,000 + $650,000)/2] = 0.2960.

The Financial Statements of Snapit Company Are Given Below