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Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $200,000 Accounts Payable $70,000 Accounts Receivable $150,000 Notes Payable $80,000 Inventory $160,000 Long-term Debt $200,000 Property

Assets

Amount (USD)

Liabilities and Equity

Amount (USD)

Cash

$200,000

Accounts Payable

$70,000

Accounts Receivable

$150,000

Notes Payable

$80,000

Inventory

$160,000

Long-term Debt

$200,000

Property

$400,000

Shareholders' Equity

$550,000

Calculate the return on equity (ROE) for the company based on the provided balance sheet and the net income of $120,000.

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