Canadian Bacon Inc. financial statements are presented in the table below. Based on the information...
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Canadian Bacon Inc. financial statements are presented in the table below. Based on the information in the table, calculate Return on Common Equity. Round the answers to two decimal places in percentage form. (Write the percentage sign in the "units" box). Ralanoe Sheet Neremher 31 T15 Totalcurrentassets$1,503,300GrossfixedassetsLess:accumulateddepreciationNetfixedassetsTotalassetsLong-termdebt$1,978,000$478,000$1,500,000$3,003,300$215,400Parvalueandpaid-in-capitalRetainedEarnings$2,333,100CommonEquityTotalliabilitiesandownersequity Income Statement, Year of 2015 Net sales (all credit) $5,386,600.00 Less: Cost of goods sold $3,716,754.00 Selling and administrative $329,000.00 expenses Depreciation expense $138,000.00 EBIT $1,202,846.00 Interest expense $39,600.00 Earnings before taxes $1,163,246.00 Income taxes $465,298.40 Net income $697,947.60
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