Using the following balance sheet, compute: Return on equity Assets Current Assets Cash $11,000 Accounts Receivable 18,000 Total current assets 29,000 Long-term Investment 25,000 Property, Plant and Equipment 55,000 Total Assets 109,000

Liabilities and Stockholders Equity Current Liabilities Accounts Payable 15,000 Salaries Payable 5,000 Total Current Liabilities 20,000 Long-term Liabilities 17,500 Total Liabilities 37,500 Stockholders Equity Paid-in Capital 50,000 Retained Earnings 21,500 Total Stockholders Equity 71,500 Total Liabilities and Stockholders Equity 109,000 Sales 265,000 Net income 33,000 Market Value (Dec. 31 2009) 150,000