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Question: The 2016 income statement for Anderson TV and Appliance reported sales revenue of $290,000 and net income of $70,000. Average total assets for 2016 was $1,000,000. Shareholders' equity at the beginning of the year was $600,000 and $30,000 was paid to shareholders as dividends. There were no other shareholders' equity transactions that occurred during the year. Show the DuPont framework's calculation of the three components of the 2016 return on shareholders' equity for Anderson TV and Appliance.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92715041

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