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Team Shirts Had a Return on Equity of 23

Question 79

Multiple Choice

Team Shirts had a return on equity of 23%.Average shareholders' equity for the corporation was $123,000.There were 45,000 common shares and no preferred shares outstanding.What was net income for the year?


A) $28,290
B) $10,350
C) $534,782.61
D) $195,652.17

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