The balance sheets at the end of each of the first two years

Last updated: 3/6/2023

The balance sheets at the end of each of the first two years of operations indicate the following Kellman Company Year 2 Year 1 600 400 567 500 68 700 42 900 894 700 624 800 115 000 85 400 Total long term liabilities 313 400 232 100 Preferred 9 stock 100 par 83 600 83 600 Common stock 10 par 540 700 540 700 Paid in capital in excess of par common stock 68 900 68 900 Retained earnings 442 200 224 500 Using the balance sheets for Kellman Company if net income is 107 400 and interest expense is 47 700 for Year 2 what is the return on common stock equity for Year 2 round percent to two decimal points Total current assets Total Investments Total property plant and equipment Total current liabilities a 13 34 b 12 88