return on common stockholders equity 459708
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Shull Corporation Income statement For the Year Ended December 31, Year 2 (dollars in thousands)
Sales (all on account)Ac€¦Ac€¦Ac€¦………..Ac€¦Ac€¦.$1,130
Less Cost of goods sold………………… 700
Equals Gross Margin………………………..430
Less Selling and administrative expenses..244
Equals Net operating incomeAc€¦Ac€¦Ac€¦…Ac€¦Ac€¦Ac€¦…186
Less Interest expenseAc€¦Ac€¦……..Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦. 29
Equals Net income before taxesAc€¦Ac€¦Ac€¦Ac€¦….Ac€¦157
Less Income taxes(30%)Ac€¦…….Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦.Ac€¦47
Equals Net incomeAc€¦Ac€¦Ac€¦Ac€¦…..Ac€¦Ac€¦Ac€¦Ac€¦Ac€¦……$110
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Dividends on common stock during year 2 totaled $40 thousand. Dividends on preferred stock totaled $10 thousand. The market price of common stock at the end of year 2 was $9.80 per share.
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