Computing Return on Equity

In a recent year, Adobe Inc. reports net income of $$11,663$ million. Its stockholders' equity is $$30,912$ million and $$32,553$ million at the start and end of the fiscal year, respectively.

a$.$ Compute its return on equity $($ROE$)$ for the year. Round answers to the nearest whole dollar amount.

b$.$ Adobe repurchased $$14,410$ million of its common stock during the year. Did this repurchase increase or decrease ROE? NOTE: Assume there was no change in net income related to the stock repurchase.

Increase

c$.$ If Adobe had not repurchased common stock during the year, what would ROE have been? Note: Enter answer as a percentage rounded to the nearest one decimal place $($ex: $24\mathrm{.}8\%).$

$30\%.$

$*$Everything is right except the denominator.