Question
At the beginning of the year, the net assets of Shannon Co. were $412,600. The only...
At the beginning of the year, the net assets of Shannon Co. were $412,600. The only transactions affecting stockholders' equity during the year were net income of $37,500 and dividends of $18,000.
Required:
Calculate Shannon Co.'s return on equity (ROE) for the year. (Round your answer to 1 decimal place.)
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