Question - Carrier Company reported net income of $360,000 and paid dividends of $30,000 on its preferred stock during the current year. Other selected financial data for the company includes the following:
Beginning of Year End of Year
Common stock $900,000 $1,200,000
Preferred stock 375,000 375,000
Retained earnings 225,000 555,000
What is the company's return on common stockholders' equity for the year?