Fido, Inc. reported net income totaling $200,000 in 19X2 and $160,000 in 19X1. Partial balance...
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Fido, Inc. reported net income totaling $200,000 in 19X2 and $160,000 in 19X1. Partial balance sheet information is provided below:
19X2 19X1
Bonds Payable $200,000 $200,000
Common stock ($10 par) $405,000 $405,000
Additional paid-in-capital $100,000 $100,000
Retained earnings $455,000 $415,000
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No preferred stock was issuesd or outstanding at the end of either year. Based on the information provided, what is the rate of return on common stockholders equity for 19X2? Round to two decimal places after converting to a percentage.
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