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%
Answer is D
