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 000s)
December 31
2018 2017
Assets:
Cash $ 95 $ 70
Accounts receivable 175 195
Short-term investments 80 70
Inventory 350 230
Property, plant, and equipment (net) 900 775
$ 1,600 $ 1,340
Liabilities and Shareholders Equity:
Current liabilities $ 390 $ 285
Bonds payable 235 235
Paid-in capital 625 625
Retained earnings 350 195
$ 1,600 $ 1,340

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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