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A company has net income of $12.95 million. Stockholders' equity at the beginning of the year is $31.50 million and, at the end of the year, it is $44.45 million. The only change to stockholders' equity came from net income. The return on equity ratio is approximately: Multiple Choice a. 0.33. b. 0.34. c. 1.05. d. 6.49
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