Question

Comparative balance sheets for Softech Canvas Goods for 2021 and 2020 are shown below. Softech pays...

Comparative balance sheets for Softech Canvas Goods for 2021 and 2020 are shown below. Softech pays no dividends and instead reinvests all earnings for future growth.

Comparative Balance Sheets
($ in thousands)
December 31
2021 2020
Assets:
Cash $ 86 $ 64
Accounts receivable 160 180
Short-term investments 74 64
Inventory 320 212
Property, plant, and equipment (net) 840 730
$ 1,480 $ 1,250
Liabilities and Shareholders’ Equity:
Current liabilities $ 360 $ 270
Bonds payable 220 220
Paid-in capital 580 580
Retained earnings 320 180
$ 1,480 $ 1,250


Required:
1. Determine the return on shareholders’ equity for 2021. (Round your answer to 2 decimal places.)

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Answer #1

Return on shareholders equity = 140/830*100= 16.87%

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