20 acct questions 2

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On January 1, 2022, Vaughn Corporation purchased 1,200 shares of treasury stock. Other information regarding Vaughn Corporation is provided as follows.

2021 2022

Net income $195,000 $210,000

Dividends on preferred stock 31,000 31,000

Dividends on common stock 21,000 24,000

Common stockholders’ equity beginning of year 599,000 665,000

Common stockholders’ equity end of year 665,000 743,000

(a) Compute return on common stockholders’ equity for each year. (Round answers to 1 decimal place, e.g. 10.5%.)

2021 2022

Return on common stockholders’ equity  %  %

221 Final Exam Ch 14-27

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221 Final Exam Ch 14-27

Question 2 of 20 - / 10