Question: In 2 0 0 3 , the Lo - Grow Company had $ 1 5 million in equity, a net income of $ 1 ,

In 2003, the Lo-Grow Company had $15 million in equity, a net income of $1,800,000. Lo-Grow paid out 60% of its net income as dividends. The ROE and retained earnings for Lo-Grow are ?
 
 

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