Multiple Choice
The average stockholders' equity for Holloway Co.last year was $2,000,000.Included in this figure was $200,000 par value of 8% preferred stock.If the return on common stockholders' equity was 12.5% for the year, net income was
A) $225,000.
B) $250,000.
C) $241,000.
D) $234,000.
Correct Answer:
Verified
Correct Answer:
Verified
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