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%

The correct answer is D. 30%

No explanation given
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