The balance sheet for electronics reported the following items- with 2018 figures given for comparison.
Balance sheet in December 31, 2019
-Total assets: $565,000
- total liabilities: $324,000
- total stockholders Equity (All common): $241,000
-total liabilities and stockholders equity: $565,000
Balance sheet in December 31, 2018
-Total assets: $491,000
- total liabilities: $277,000
- total stockholders Equity (all common): $214,000
-total liabilities and stockholders equity: $491,000
Net income for 2019 was $24,000. Compute the rate on common stockholders equity for 2019.
