Paid-in capital in excess of par-common stock

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Reference no: EM13544475

The balance sheets at the end of each of the first two years of operations indicate the following: 

 

 

2012 

2011 

Total current assets

$600,000 

$560,000 

Total investments

60,000 

40,000 

Total property, plant, and equipment

900,000 

700,000 

Total current liabilities

125,000 

65,000 

Total long-term liabilities

350,000 

250,000 

Preferred 9% stock, $100 par

100,000 

100,000 

Common stock, $10 par

600,000 

600,000 

Paid-in capital in excess of par-common stock

75,000 

75,000 

Retained earnings

310,000 

210,000 

If net income is $115,000 and interest expense is $30,000 for 2012, what is the rate earned on stockholders'' equity for 2012 (round percent to one decimal point)? 

A) 11.1% 

B) 14.0% 

C) 10.6% 

D) 12.4%

Reference no: EM13544475

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