23 每天一练 PAPER 1.1

super

23 The capital structure of a company at 30 June 2005 is as follows:
$m
Ordinary share capital 100
Share premium account 40
Retained earnings 60
10% Loan notes 40
The company’s income statement for the year ended 30 June 2005 showed:
$m
Operating profit 44
Loan note interest (4)
–––
Profit for year 40
–––
What is the company’s return on capital employed?
A 40/240 = 16 2/3 per cent
B 40/100 = 40 per cent
C 44/240 = 18 1/3 per cent
D 44/200 = 22 per cent

 

C

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c