Balance Sheet

Current assets

Cash $640,000$

Acc receivable not given

Inventories $1,150,000$

Fixed assets $3,710,000$

TOTAL ASSETS $6,400,000$

Current liabilities

Acc payable not given

Long$-$term debt $2,600,000$

Common stock $900,000$

Retained earnings $2,150,000$

TOTAL LIAB and EQUITY $6,400,000$

Income Statement

Sales $12,800,000$

Operating expense $9,730,000$

EBIT $3,070,000$

Interest expense $338,000$

EBT $2,732,000$

Taxes $1,093,000$

Net income $1,639,000$

What is the firm's return on common equity?