The Fisher Apparel Company balance sheet for the year ended Year 1 is as follows: December 31, Year 1 (in Thousands of Dollars) Assets Cash $4,280 Marketable securities 2,300 Accounts receivable 26,250 Inventories 39,605 Plant and equipment $71,650 Less: Accumulated depreciation 15,600 Net plant and equipment 56,050 Total assets $128,485 Liabilities and Stockholders’ Equity Accounts payable $12,066 Current portion of long-term debt 5,000 Accrued wages 800 Accrued taxes 2,400 Other current liabilities 2,800 Long-term debt 34,000 Common stock ($15 par) 22,500 Capital contributed in excess of par 19,100 Retained earnings 29,819 Total liabilities and stockholders’ equity $128,485 Determine Fisher’s return on stockholders’ equity if its Year 1 earnings after tax are $13,000(000). Round your answer to two decimal places.

The Fisher Apparel Company balance sheet for the year ended Year 1 is as follows: December 31, Year 1 (in Thousands of Dollars) Assets Cash $4,280 Marketable securities 2,300 Accounts receivable...

The Fisher Apparel Company balance sheet for the year ended Year 1 is as follows:

December 31, Year 1
(in Thousands of Dollars)

Assets
Cash		$4,280
Marketable securities		2,300
Accounts receivable		26,250
Inventories		39,605
Plant and equipment	$71,650
Less: Accumulated depreciation	15,600
Net plant and equipment		56,050
Total assets		$128,485
Liabilities and Stockholders’ Equity
Accounts payable		$12,066
Current portion of long-term debt		5,000
Accrued wages		800
Accrued taxes		2,400
Other current liabilities		2,800
Long-term debt		34,000
Common stock ($15 par)		22,500
Capital contributed in excess of par		19,100
Retained earnings		29,819
Total liabilities and stockholders’ equity		$128,485

Determine Fisher’s return on stockholders’ equity if its Year 1 earnings after tax are $13,000(000). Round your answer to two decimal places.

Jun 08, 2022