Wichita, Inc., had reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues$222,000? Expenses 173,200? Net income $48,800? Current assets$61,000? Long-term assets 183,000? Total assets $244,000? Current liabilities$42,000? Long-term liabilities 91,000? Total liabilities $133,000? Common stock$51,000? Retained earnings 60,000? Total equity $111,000? Total liabilities equity $244,000? What is the company's return-on-equity ratio?
A. 45%
B. 44%
C. 10%
D. 20%
Answer: B
Business
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