Question: Comparative balance sheets for Softech Canvas Goods for 2016 and 2015 are shown below. Softech pays no dividends, and instead reinvests all earnings for future

Comparative balance sheets for Softech Canvas Goods for 2016 and 2015 are shown below. Softech pays no dividends, and instead reinvests all earnings for future growth.

Comparative Balance Sheets ($ in 000s)

December 31 2016 2015

Assets:

Cash $ 104 $ 76

Accounts receivable 190 210

Short-term investments 86 76

Inventory 380 248

Property, plant, and equipment (net) 960 820

$ 1,720 $ 1,430

Liabilities and Shareholders Equity:

Current liabilities $ 420 $ 300

Bonds payable 250 250

Paid-in capital 670 670

Retained earnings 380 210

$ 1,720 $ 1,430

Required: 1. Determine the return on shareholders equity for 2016. (Round your answer to 2 decimal places.)

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