Holland Corporation's annual report is as follows.
Based on the information provided, find the rate of return on common stockholders' equity on March 31, 2018. (Round your final answer two decimal places.)
A) 8.36%
B) 9.32%
C) 8.67%
D) 7.99%
B) 9.32%
Explanation: Average Common Stockholders' Equity - (4,380,000 + 5,092,000) / 2 = 4,736,000
Rate of Return on Common Stockholders' Equity = Net Income / Average Common Stockholders' Equity
Average Common Stockholders' Equity = 441,500 / 4,736,000 = 9.32%
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