Question: M17-3 Computing the Return on Equity Ratio Given the following data, compute the 2008 return on equity ratio (expressed as a percentage to one decimal

M17-3 Computing the Return on Equity Ratio Given the following data, compute the 2008 return on equity ratio (expressed as a percentage to one decimal place). 2008 2007 Net income $ 1,850,000 $ 1,600,000 Stockholders’ equity 10,000,000 13,125,000 Total assets 24,000,000 26,000,000 Interest expense 400,000 300,000

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