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ACCOUNTING HELP PLZ..BEST ANSWER GETS 10 PTS..REALLY?
SuperV, one of the largest grocery retailers in the United States, is headquartered in Minneapolis. The following financial information (in millions) was taken from the company's 2010 annual report. Net sales $44,178; net income $486; beginning stockholders' equity $3,046; ending stockholders' equity $5,369. Compute the return on stockholders' equity ratio. (Round to 2 decimal places, e.g. 12.25.)
%
1 Answer
- ?Lv 79 years agoFavorite Answer
Will need to use this below :
Average stockholders' equity
= [ ($3.046 + $5,369 ) / 2 ]
= ( $8,415 / 2 )
= $ 4,207.5
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return on stockholders' equity ratio
= ( Net Income / Average Stockholders Equity )
= ( $ 486 / $ 4,207.5 )
= 0.12
