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Calculate the return on equity for year

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Reference no: EM133080436

Question - Company X only has common shares outstanding. The following data relates to Company X.

Total assets, Dec 31, year 1 $382000

Total assets, Dec 31, year 2 $392000

Total liabilities, Dec 31, year 1 $46000

Total liabilities, Dec 31, year 2 $65000

Sales for year 2 960000

Income for year 2 22000

Required - Calculate the return on equity for year 2. Express your answer as a percentage and round your answer to 2 decimal places.

Reference no: EM133080436

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