At the beginning of the year, the net assets of Shannon Company were $$328,700.$ The only transactions affecting stockholders' equity during the year were net income of $$48,500$ and dividends of $$11,500.$

Required:

Calculate Shannon Company's return on equity $($ROE$)$ for the year.

Note: Round your answer to $1$ decimal place.

Answer rating: 100% (QA)

ROE Net Income Average Stockholders Equity First calculate th... View the full answer