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At the beginning of the year, the net assets of Shannon Company were $492,600. The only transactions affecting stockholders equity during the year were net
At the beginning of the year, the net assets of Shannon Company were $492,600. The only transactions affecting stockholders’ equity during the year were net income of $70,200 and dividends of $15,400.
Calculate Shannon Company’s return on equity (ROE) for the year. Note: Round your answer to 1 decimal place.
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