Partridge Inc. provides the following information for the year 2014:
$\begin{array}{llcc}
\text {Net income } & \$180,000 \
\text { Market price per share of common stock } &\$20.00/\text {share}\
\end{array}$

Common stockholders' equity at Jan. 1, 2014 $\quad $ $\quad $ $\quad $$1,100,000 Common stockholders' equity at Dec. 31, 2014
$1,500,000
$12 \%$ preferred stock cutstanding $\quad $ $\quad $ $\quad $$100,000
Calculate return on common stockholders' equity. (Round the percentage to two decimals)

Question

Partridge Inc. provides the following information for the year 2014:
 $\begin{array}{llcc}
  \text {Net income  } & \$180,000 \
 \text { Market price per share of common stock } &\$20.00/\text {share}\
\end{array}$

Common stockholders' equity at Jan. 1,  2014 $\quad $ $\quad $ $\quad $$1,100,000 Common stockholders' equity at Dec. 31, 2014
$1,500,000
 $12 \%$ preferred stock cutstanding  $\quad $ $\quad $ $\quad $$100,000
 Calculate return on common stockholders' equity. (Round the percentage to two decimals)

Quizplus · Accepted Answer

The Answer of Partridge Inc. provides the following information for the year 2014:
 $\begin{array}{llcc}
  \text {Net income  } & \$180,000 \
 \text { Market price per share of common stock } &\$20.00/\text {share}\
\end{array}$

Common stockholders' equity at Jan. 1,  2014 $\quad $ $\quad $ $\quad $$1,100,000 Common stockholders' equity at Dec. 31, 2014
$1,500,000
 $12 \%$ preferred stock cutstanding  $\quad $ $\quad $ $\quad $$100,000
 Calculate return on common stockholders' equity. (Round the percentage to two decimals)