what is the Return on Average Equity (ROE) ?

2019 2018 Assets: Cash Accounts Receivable Inventory Long-lived assets Less: Accumulated Total assets 10,000 6,000 8,000 12,000 (4.000) $ 32,000 6,000 1,500 10.000 11,000 (2.000) $ 26,500 Liabilities and Accounts payable Deferred revenues Long-term note payable Common stock Retained earnings Total liabilities and 5,000 1,000 10,000 12,000 4,000 32,000 5,000 2,000 10,000 6,000 3.500 26,500 Income Statement For the year ended December 31, 2019 Revenues Cost of goods sold Depreciation expense Interest expense Bad debt expense Other expense (including income taxes) Net income $ 42,000 24,000 2,000 3,000 2,000 9.000 $ 2,000 FY21/31 2019 2018 2017 Sales Cost of goods sold Operating expenses Net income $178,400 115,000 50,000 13,400 S162,500 102,500 50,000 10,000 $155,500 100,000 45,000 10,500