13 LOGIC COMPANY Comparative Balance Sheet December 31, 2017 and 2018 2018 2017 2 points Skipped $12,800 $ 9,900 17,400 13,400 9,400 14,900 24,900 10,900 $64,500 $49,100 eBook Print $15,400 $11,700 14,400 9,900 $29,300 $21,600 $94,300 $70, 700 References Assets Current assets: Cash Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment Building (net) Land Total plant and equipment Total assets Liabilities Current liabilities: Accounts payable Salaries payable Total current liabilities Long-term liabilities i Mortgage note payable Total liabilities Stockholders' Equity Cotton stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $13,900 $ 7.900 7, 900 5.900 $21,800 $13,800 22,900 21.400 $44,700 $35,200 $22,000 $22,000 27,600 13,500 $49,600 $35,500 $94,300 $70,700 Calculate the return on equity (after tax) ratio. (Round your answers to the nearest hundredth.) 2018 2017 Return on equity 13 LOGIC COMPANY Comparative Balance Sheet December 31, 2017 and 2018 2018 2017 2 points Skipped $12,800 $ 9,900 17,400 13,400 9,400 14,900 24,900 10,900 $64,500 $49,100 eBook Print $15,400 $11,700 14,400 9,900 $29,300 $21,600 $94,300 $70, 700 References Assets Current assets: Cash Accounts receivable Merchandise inventory Prepaid expenses Total current assets Plant and equipment Building (net) Land Total plant and equipment Total assets Liabilities Current liabilities: Accounts payable Salaries payable Total current liabilities Long-term liabilities i Mortgage note payable Total liabilities Stockholders' Equity Cotton stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $13,900 $ 7.900 7, 900 5.900 $21,800 $13,800 22,900 21.400 $44,700 $35,200 $22,000 $22,000 27,600 13,500 $49,600 $35,500 $94,300 $70,700 Calculate the return on equity (after tax) ratio. (Round your answers to the nearest hundredth.) 2018 2017 Return on equity