Tanaka Corporation's balance sheet indicates the following balances as of December 31, 2019.

Required:
If Tanaka's 2019 net income is $80,000, determine its return on equity (in percentage terms, rounded to two decimal places)?

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$ 70,000 Bonds payable (due in 2023) Common stock (12/31/2018) Common stock (12/31/2019) Retained earnings (12/31/2018) Retained earnings (12/31/2019) Cash Accounts receivable $100,000 55,000 Inventory 325,000 Property, plant, and equipment Accounts payable 500,000 75,000 260,000