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

Exercise 9

Calculate ROE Firm L had net assets at the end of the year of $730,000. The only transactions affecting stockholders' equity during the year were net income of $154,000 and dividends of $94,000.
Required:
Calculate Firm L's average stockholders' equity and return on equity (ROE).