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The following amounts were taken from the accounting records of Red Alert Security on December...

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The following amounts were taken from the accounting records of Red Alert Security on December 31. $1,000,000 $5 preferred convertible shares, (January 1) $5 preferred convertible shares, (December 31) Common shares, (January 1) Common shares,( December 31) Dividends declared Profit for the year Retained earnings, January 1 $1,200,000 1,560,000 1,640,000 150,000 201,000 843,000 What was their return on equity for the year? 7.38% 5.71% 7.44% O 5.63%

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