Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall

Exercise 1

Calculate ROE At the beginning of the year, the net assets of Shannon Co. were $617,900. The only transactions affecting stockholders' equity during the year were net income of $62,400 and dividends of $18,200.
Required:
Calculate Shannon Co.'s return on equity (ROE) for the year. Round your percentage answer to one decimal place.