Exercise $18-24($Algo$)$ Profitability ratio $[$LO$18-1]$

Comparative balance sheets for Softech Canvas Goods for $2024$ and $2023$ are shown below. Softech pays no dividends and instead reinvests all earnings for future growth.

Comparative Balance Sheets

$($$ in thousands$)$

Required:

Determine the return on shareholders' equity for $2024.$

What does the ratio measure?

Complete this question by entering your answers in the tabs below.

Determine the return on shareholders' equity for $2024.$

Note: Round your answer to $2$ decimal places.

Retum on shareholders' equity

$\%$