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At the beginning of the year, the net assets of Shannon Co. were $395,200. The only transactions affecting stockholders' equity during the year were
At the beginning of the year, the net assets of Shannon Co. were $395,200. The only transactions affecting stockholders' equity during the year were net income of $42,500 and dividends of $15,500. Required: Calculate Shannon Co.'s return on equity (ROE) for the year. (Round your answer to 1 decimal place.) Answer is complete but not entirely correct. Return on equity 10.0 %
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