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Selected financial data for Irvington Company appear below:

Selected financial data for Irvington Company appear below:

Account Balances
Beginning
of year End of
year
Preferred stock $125,000 $125,000
Common stock 300,000 400,000
Retained earnings 75,000 185,000


During the year, the company paid dividends of $10,000 on its preferred stock. The company's net income for the year was $120,000. The company's return on common stockholders' equity for the year is closest to:

17%.
19%.
23%.
25%.
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Accounting-8097052.xls

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