\begin{tabular}{|lrc|} \hline \multicolumn{4}{|c|}{ Cowan Kitchen Counters, Inc. } \\ \multicolumn{3}{|c|}{ Comparative Income Statement } \\ \hline \multicolumn{1}{|c|}{ For Years Ended December 31,202 and 201} \\ \hline Net sales (all on account) & 202 & 201 \\ \hline Cost of goods sold & $2,580,000 & $2,170,000 \\ Gross profit & 1,880,000 & 1,610,000 \\ \hline Operating expenses & $700,000 & $560,000 \\ Other expense (interest) & 320,000 & 220,000 \\ Income tax expense & 24,200 & 24,200 \\ Net income & 173,000 & 104,000 \\ \hline \end{tabular} Compute ROE for 20-2 using its three basic components (round all calculations to two decimal places). %