Gross earnings........................N950 000
Current liabilities...................N100 000
Operating expenses....................N350 000
10% debentures........................N400 000
Shareholder's fund....................N1300 000
Corporate tax is 30%
From the data above calculate the returns on equity?
A.
33%
B.
35%
C.
20%
D.
30%
Correct Answer: Option D
Explanation
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