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QUESTION
Cielo Corporation had net income of $740,000 in 20x4 and $830,000 in 20x5.
Cielo Corporation had net income of $740,000 in 20x4 and $830,000 in 20x5. Total stockholders’ equity at the end of 20x4 was $1,250,000 and total stockholders’ equity at the end of 20x5 was $1,500,000. Cielo’s total assets at the end of 20x4 were $2,210,000 and its total assets at the end of 20x5 were $2,860,000. Based on this information, what is Cielo’s return on equity for 20x5?
