Based on the information in financial statements for Emerson Corporation, assuming that the firm has no preferred stock, and paid $300,000 in common dividends, the firm's return on equity was Note: Round your intermediate and final answer to two decimal places. Emerson Corporation Balance Sheet Income Statement Assets: Cash $250,000 Sales (all credit) $8.000.000 Accounts receivable 450,000 Cost of goods sold (4,000,000) Inventory 500,000 Operating expense (2 900.000) Net fixed assets 2,100,000 Interest expense (150,000) Total assets $3,300,000 Income taxes (380.000) Net income $570.000 Liabilities and owners' equity: Accounts payable $100,000 Notes payable 450,000 Long-term debt 1,050,000 Owners' Equity 1.700.000 Total liabilities and owner's equity $3,300,000