What is the return on common stockholders' equity based on the following:
Beginning Common Stock: $1 par (500,000 shares authorized, 400,000 shares outstanding)
Beginning Additional Paid-in Capital, Common Stock: $1,600,000
Ending Common Stockc $1 par (500,000 shares authorized, 460,000 shares outstanding)
Ending Additional Paid-in Capital, Common Stock: $1,800,000
Net Income: $362,500
Preferred Stock throughout the year: 8%, $50 par (10,000 shares authorized and outstanding).
A) 14.3%
B) 15.1%
C) 18.1%
D) 19.0%