Question: Comparative balance sheets for Softech Canvas Goods for 2018 and 2017 are shown below. Softech pays no dividends, and instead reinvests all earnings for future
Comparative balance sheets for Softech Canvas Goods for 2018 and 2017 are shown below. Softech pays no dividends, and instead reinvests all earnings for future growth. Comparative Balance Sheets ($ in 000) December 31 2018 2017 Assets Canh $ 65 $ 50 Accounts receivable 125 145 Short-term investments 60 Inventory 250 Property, plant, and equipment (net) $1,200 $1,040 Liabilities and shareholders' Equity Current liabilities $ 235 Bonds payable 185 Pald-in capital Retained earnings $1,200 $1,040 170 700 625 145 Required: 1. Determine the return on shareholders' equity for 2018. (Round your answer to 2 decimal places.) Return on shareholders' equity
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