The comparative financial statements of Bettancort Inc. are as follows. The mark

Question

The comparative financial statements of Bettancort Inc. are as follows. The market price of Bettancort Inc. common stock was $71.25 on December 31, 2016.

Required:

Determine the following measures for 2016, rounding to one decimal place, except for dollar amounts, which should be rounded to the nearest cent. Use the rounded answer of the requirement for subsequent requirement, if required. Assume 365 days a year.

Bettancort Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 2016 and 2015     2016     2015 Retained earnings, January 1 $2,655,000 $2,400,000 Add net income for year 300,000 280,000 Total $2,955,000 $2,680,000 Deduct dividends: On preferred stock $15,000 $15,000 On common stock 10,000 10,000 Total $25,000 $25,000 Retained earnings, December 31 $2,930,000 $2,655,000 13. Rate earned on total assets

Explanation / Answer

The comparative financial statements of Bettancort Inc. are as follows. The mark

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